Misalignment of interests between long-term institutional investors and CEOs lies at the core of the agency problem. We postulate that future-focused CEOs might mitigate this problem as they prioritise long-term goals. Our analysis, drawing on data from 17,983 firm-year observations between 2001 and 2016, did not support our argument. It, contrarily, showed a positive relationship between past-focused CEOs and the fraction of shares held by quasi-indexers and investment advisors, which are long-term investors. Information asymmetry may explain this finding. The uncertainty associated with long-term investment amplifies the extent of information asymmetry between investors and CEOs. However, past-focused CEOs reflect on past experience, which improves reliability and reduces uncertainty. We add insight to the understanding of the agency problem, and contribute to research in temporal focus.