Finally had a chance to listen to this in its entirety. Some comments.
On the 'HP Way', it was marvelous while it lasted. HP of old and "management by walking around" may work for small businesses, but its unlikely H or P could see everyone if you're a multinational with tens of thousands of employees.
Senior officers are full time jobs, 24/7, one really cannot afford to be unreachable during a vacation or asleep as a crisis erupts, as was the case of BP spill or Toyota with the acceleration issue, or a production line stalling because of a parts failure, such delays translate in to millions lost per minute; also your Asian branches are awake and doing business while the West sleeps and vice versa. You have a portfolio of lawsuits to decide what to do, projects with various levels of success, or failure. Work doesn't end at 5pm or so. While I think the issue of salaries is at face value unfair, the ex-CEO of HP was incharge of $100B in revenue, for a salary of $34M. That's about 340 ppm. If you were CEO of a company that made $100M annually, your equivalent salary would be $34,000. Things are a lot less clear at the top than simply improving the print quality of a toner, so there is little guidance, and you can be fired any time, so most CEO make a golden parachute because before they get hired, they know they can be fired, and if they are fired because they didn't do well as a CEO, chances are they aren't going to be hired at this level ever again by another company.
Joining the IEEE isn't just to network, you can do that anywhere today. Where it remains unique besides a standards body, is the literature database for information that is as bias free as possible. Its also one of the few places competing companies can meet or write about technical issues without worrying about their ideas being stolen.
Getting a Professional Engineer license or an equivalent has practical ramifications, depending on the niche you're in. In many instances, PE are required for heading federal, state, or city projects in the USA.