"The giant sucking sound heard in the business world during 2004 was the extraction of chief executives from seats of power," states a recent study by Booz Allen Hamilton consultants.

According to the study, of the world's 2,500 largest companies, more than 14% of CEOs vacated their corner offices in 2004. Almost one-third of the CEOs heading out the door were forced out by cranky investors and board members. The primary reason for the firings: poor performance. Shady ethics and political power struggles took a back seat to lackluster results.

Look for the trend to continue. Like Fast Company says: CEO See-Ya!

Why? Too many CEOs of public companies jeopardize the long-term value of their businesses by buckling under the pressure of short-term earnings goals. In a 2004 study by Duke University, 78% of executives said they would sacrifice initiatives that drive long-term value in exchange for smoothing out short-term earnings.

Quarterly profits are good, of course, but a short-term management mindset creates a vicious cycle once the earnings well begins to run dry: business performance suffers, cost reduction programs are implemented, and restructuring charges hit the books. Oh, and then the CEO is fired.

But this game of CEO musical chairs doesn't break the gridlock. The CEO left standing when the music stops is showered with a generous severance package, and the new boss plays the same tune all over again. Ultimately, it's the shareholders and employees that suffer the consequences.