This is precisely why higher the CEO pay results in poorer performance by the company. All that pay, blinds the CEO, makes them think they are invincible, if the market is shoving that many billion dollars their way, they must be doing everything right. It sets up the eco system where flatterers, sycophants and yes men thrive insulating the CEO from real news and real feedback.
To think one man, with some initiative can change the culture of a company the size of Microsoft, with entrenched interests, history of turf warfare and empire building is blowing smoke. That company went through spectacular expansion and growth in the 1990s. All those very capable people, the ones who have the vision and ability and the guts to skate too close to or even past the edges of legal behavior have all cashed out, burnt out or pushed out. As the able ones leave, the fraction of PHBs who are clueless when there is not a de-facto monopoly increases. They are playing the same game that used to be effective when there was a WinTel monopoly on desktops, and desktops had the monopoly on computing.
A truly visionary CEO will realize this, break the company into pieces that will once again compete or perish and resign. But Satya Nadella is no Michail Gorbachev.