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The CIPD (2008, ) also report on the 'dark-side' of charisma and suggest that although some leaders may superficially appear charismatic they hide undesirable characteristics such as dishonesty and greed. By the time such characteristics are discovered the organisation and employees may have suffered irreparable harm. Research undertaken by Collins (2001, cited in CIPD, 2008, ) investigated common characteristics in US companies quoted on the Stock Exchange whose performance was 'outstanding'. The findings indicated that common characteristics included an unshakable belief in their company and also a 'deep personal humility'. These CEOs were not at all charismatic and appeared to be quite unassuming. Collins also noted that failing companies had a CEO 'with a gargantuan ego' causing the company to fail (Collins 2001, cited in CIPD, 2008, ).