I think that is an extremely un-nuanced and overly simplistic way of looking at it. There is a lot of research that shows that empathy is one of the most critical traits possessed by successful chief executives. In general CEOs with higher levels of empathy cultivate environments in which employees feel valued and respected, are given the freedom to take risks and think creatively without fear of judgement, and are able to be seen as a calming stabilizer in moments of crisis- all of which leads to higher engagement, increased job satisfaction/, and a greater likelihood of their staying with the organization long-term (and low turnover is one of the primary methods in which businesses can keep costs low and profits high). Empathetic CEOs tend to make more informed and responsible decisions because they can better anticipate the impact of changes on various constituencies within the company, and within the customer base. Certainly there can be associated downsides of empathetic leadership, such as a emotional over-investment that can lead to decision-making analysis paralysis. But overall, empathy is viewed as a leading characteristic among successful chief executive officers.
As to your other point about risk tolerance- I don't see that being a very conservative trait at all. Not even close, in fact. Conservatism inherently wants to maintain a hierarchal status quo in which as little change as possible is made, and any change is exceedingly slow and incremental. That seems to be risk-adverse, not risk-tolerant.