Good executives become more efficient at taking time-off, of course. Their earnings allow them to fly directly to their destination, perhaps even by private jets, when others must wait at airports; they employ drivers to ensure they arrive relaxed and can start their leisure activities immediately; they might even add vacation days to business trips to avoid duplicating travel. And good time-managers can extract as much pleasure from a three-day break as others obtain in a week. But today’s busy executive lifestyle, when a day on the golf course with a client is frowned on, means maximising the value of time-off is as important a personal goal as improving the corporation’s financial ratios.

It is impossible to generalise about business executives. Some willingly remain at their desks into their dotage, working all days a week and remaining hands-on from wherever in the world they are. It seems unfair to criticise such commitment, especially when it is usually the company founder that displays this apparent dedication, but it does not produce the all-round business leader that is likely to repeat the past innovation and take the company to new levels. Executives who stay so long have not only probably lost their edge, they tend to become surrounded by yes-men and, by spending so long in the office they lose contact with the ordinary people who are their ultimate customers.

Increasingly, executives do not get the chance to overstay their welcomes. Investors regard longevity as poor governance and even major companies eject senior directors at 60. That is not necessarily a bad thing; not only can the business then promote young talent, it can rejuvenate senior managers. Some of those executives will find similar senior employment elsewhere but most move into consultancy or non-executive posts where they can impart their lifetime of wisdom to others, yet have time to refresh their minds and spend their earnings. It is a fitting reward for a long career that benefits both business and business people. An increasing number of senior executives are preparing for that phase of their life by accepting non-executive directorships while still in top jobs, then ‘retiring’ early to expand that portfolio of part-time employment.

That way they can continue working and earning long after their normal retirement date but enjoy a positive lifestyle while still contributing to the commercial, or charitable, world. Most rising executives misjudge the work-life balance, failing to take their full leisure opportunities. Before their career peaks it is sensible to consider rewarding themselves and their families: those that do not frequently see their careers end in humiliation.