Don't waste too much sympathy. Being the place where the buck stops, fair or not, is one reason CEOs get the big money. And as you point out, I doubt he's going to end up eating canned stew.

There are many decision levels where mistakes can be made, or for that matter, where brilliant ideas can be generated. If a company gets big enough to have too many such levels, fossilization can set in. This is usually where someone else who's a bit more innovative and responsive comes in and eats their lunch. Or, if we're talking oil, "drinks their milkshake."

That last phrase is interesting. I used to think it was a cultural reference like "tweaking your nose," but it's apparently a literal reference to an oil driller using a form of sideways drilling to swipe oil off someone else's land.