What does great CEO need to create long term returns?

One of the books recommended by Buffett to be read by investors dealing with fundamental analysis is The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint For Success

In it, the author highlights just like the investors in Graham and Doddsvile what these CEOs with vastly great long term results have:

• Capital allocation is a CEO’s most important job
• What counts in the long run is the increase in per share value, not overall growth or size
• Cash flow, not reported earnings, is what determines long term value
• Decentralized organizations release entrepreneurial energy and keep both costs and "rancor"down
• Independent thinking is essential to long term success, and interactions with outside advisers (Wall street, the press, etc.) can be distracting and time-consuming
• Sometimes the best investment opportunity is your own stock
• With acquisitions, patience is a virtue… as is occasional boldness