@phillmv responding in reverse... i think it can work at the conglomerate level! but only if the CEO, who is really a portfolio manager, doesn't break what they own by imagining they know better, or tell themselves immorality tales about how a little pressure and adversity could only do some good. the conglomerate CEO's role is more like board member than owner, a source of advice, counsel, and resources, but not command. if unsatisfied, the conglomerate CEO should usually just sell.