What do you guys think about Founders/CEOs of software/IT companies with no experience in coding? How can they ever understand a developer’s plight and run a developer friendly company?

It depends. As long as he/she does his/her job as a founder or CEO, which means keep the company going. No biggies.

I think it's perfectly fine for CEOs and founders, even good I'd say.

A CEO or founder's job is not to get into the nitty gritty of code. Their job is to "sell" the company and run it well. Developers suck at that stuff.
It's even more important in startups. I wouldn't want to work in a startup where the founder is a hard core programming geek. That startup wouldn't get anywhere because that's not what we, the developers, do. I'd like to work in a startup where the founder is a fucking rockstar, someone who is natural on stage and can hype the company like mad because then the company would move ahead fast.

@Froot you are describing an ideal founder/boss, one who doesn’t interfere in the technical process at all and that’s great. But I wish everyone was like that.
Sometimes bosses set unrealistic goals and don’t ‘get’ why it’s taking so long OR why it can’t be done. Someone with technical knowledge would fair better there.

An effective leader doesn't need to understand how to do every role in their organisation, but they need to listen to the people in those roles.

@devaalok True that. The founder I described doesn't have to know programming but should also stay out of it and trust his people. Obviously there would be a tech lead of sorts and he would have to know how development works

It's inevitable. All industries are becoming more software oriented. I've seen it in agriculture and mining to name some unusual ones.

Humility and willingness to learn helps. But they shouldn't expect to know everything that's why they hired experts.

Trusting in people's willingness to do their best and enabling them, instead of assuming their out to cheat you is a good way to start.

Hopefully they're not stuck in an archaic Draconian management style, but the software industry is influencing all industries nowadays, for the reason in
first paragraph.