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And they could be promoted once each "CEO" is retired in the appropriate ranking order. I don't care about the salary part. The founder is set at only 100% efficiency anyway while on average I had hired employees at 200%+. Plus it's just one more salary.
But I do care about the realism to Corporate jobs.
That's not really how CEOs work. A CEO is hired by a board of directors, not by succession. Company presidents of privately held companies can work that way - for example retiring company presidents typically award the presidency to a family member or to the vice president of their company.
Depends on the company. If you own all your company you can say my son is the next in line, even if your son is an incapable lazy bastard.