I used to work for a smaller company that was about 25 years old and the founder was still very much involved in the day to day, even technical, aspects of our work. I thought it was cool because he is of course extremely knowledgeable but it definitely limited our thinking in that we kept doing things the same way as they did in the late 90s- not ignorant of new techniques but certainly not taking them seriously. Everything was a fad or a flash in the pan.

After our company was sold to another company that did similar but not the same work and wanted to increase their own ability in our field, there was an immediate loosening of the old ropes that bound us. The new corporate management got pushy and when we would sheepishly ask for permission to try something new, they would say "get to it", providing the necessary financial support for R&D as well.

For us getting new blood has created a major awakening that I think would not have been possible under our original CEO.