Maybe the way they are appointed is the problem - either akin to a football manager who sees the role as short term or a political appointee with a party agenda. Knowing the business and learning a new role by rising through the ranks doesn't seem to be an option anymore. Hence the lack of faith, low morale and poor opinion many workforces have of those in charge. Childish pop maybe but the image and perception exists along with the reality that most MD/CEO in the rail industry all share the same aim of cutting costs and that tends to be at the expense of staff wages and equipment/resources.
I personally know several current TOC MDs as well as several past; most of them have risen through the ranks; none of them have waltzed straight into the role. All of them, without exception, have had the greater good of the railway at heart. Some were probably promoted beyond their capability, but those generally did not stay in the role for long.
Part of a MD's role is to make sure that the company meets its financial targets. Inevitably that means some costs have to be cut, but I can't say I've noticed staff wages ever being cut and equipment/resource is only cut if it's not needed or the money could be better spent elsewhere. If anything, the people that have taken the brunt of 'management action' over the years have been managers.
MDs are very aware of the vital role played by frontline staff. It's why I've been surprised at the position adopted by GTR.