Where CEOs live becomes source of debate as companies tighten in-office policies

Companies led by long-distance CEOs generally report weaker financial performance. In Minnesota, there are fewer long-distance CEOs compared to neighboring states; however, some public companies still have them, including UnitedHealth Group and Target. The former CEO of UnitedHealth, Andrew Witty, did not reside in Minnesota, creating scrutiny. Brian Cornell, Target's CEO, also resides in Florida, contributing to this trend. Daily interactions with employees are crucial for fostering better financial outcomes, emphasizing the importance of strong executive-employee engagement.

Companies with long-distance CEOs exhibit lower financial performance. Despite Minnesota having fewer of these executives compared to neighboring states, some public companies do have them, like UnitedHealth Group and Target.

Long-distance CEOs may spend significant time at headquarters, but daily interactions with employees are critical for success. This is a similar argument made by advocates for return-to-office policies.

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