A CEO’s popularity in the public space is always welcome for the firm he or she is heading, as seen with the Birlas and Tatas of the world. Elizabeth Blankespoor and Ed DeHaan have researched the link between media coverage and CEO popularity. They noted that while increased CEO promotion was a good sign for the firm, it was also important to know that abnormally high promotion could mean a future decline in firm value. They also observed that a CEO need not always become popular by operating performance, he or she could manage the press.
Source: Social Science Research Network
Title: CEO Visibility: Are Media Stars Born or Made?