Let’s play out a hypothetical, shall we?



Let’s say you sit on the board of a company that’s fallen on hard times recently. For these purposes, let’s say that company is a regional coffee chain — we’ll call it Kansas Joe’s. And let’s say you recently fired your CEO and are looking to hire a new one.



It just so happens that the former CEO of a much more prominent coffee company — we’ll call it LS Brew’s — is interested in taking your position. He’s kind of a cult figure in the business world for his zany personality. And he’s incredibly accomplished. You’re initially blown away that he would even give your company the time of day.



But then you start looking into it and discover there’s a reason the ex-LS Brew’s CEO needs a job. Back in 2007, his chain had become the best-selling coffee in the country, earning him widespread acclaim. But by 2016, LS Brew’s...