Removing The CEO (OCT 26, 2020)

In almost thirty five years of working on boards, the hardest decisions I have had to make involve removing the CEO. It is an important decision and one that must be made from time to time. I am not a fan of removing the CEO until and unless it is abundantly clear that it must be done.

But when the CEO has failed to manage numerous important challenges, when the senior leadership team has been a revolving door, when the CEO has messed up important relationships with customers, employees, and other important stakeholders, when the organization has become toxic as a result of the CEO’s abrasive personality, then the choice is abundantly clear and must be made.

It is an even harder decision to make when you don’t have an obvious replacement, or when you are not 100% confident that the obvious replacement will be an improvement over the current CEO.

But those are not reasons to wait. You must act and replace the failed CEO with whomever is the best option in that moment and work with the new CEO to address the challenges facing the company, many a result of the failed CEO’s poor leadership.

Waiting is never the right answer. Failing to act is never the right answer. You must remove a failing CEO.

~ Fred Wilson
https://avc.com/2020/10/removing-the-ceo/
#life #lifelessons #gold #ceo #removingtheceo

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8 replies (most recent on top)

@1vlk+17Cg47qE When you pay RS 272K per month pension after his retirement, you're 100% lining your pockets at the C-Level.

AT&T will always survive. It's in that rarified air of "too big to fail". Still, Stankey would be an awful choice. He bungled T-Mobile merger, he helped bungle DTV, he's slowly destroying WarnerMedia. Don't even get me started on his move to Dallas/El Segundo a few years ago... Wow, lets ask a ton of people to move to El Segundo. A much higher cost of living area with much more costly talent base, when places like Atlanta have an amazing talent base at lower costs.

Stankey cannot move forward. It's a colossal mistake to do so.

It would be so nice if they got someone that was not a Boomer to run the company. We need innovation. Not the same ole, same ole.

Op any fool can diagnose a problem. Only a wise person can come up with proven solutions to fix them. What are yours?

RS retires at or before the end of the year as Chairman. His replacement is a very important milestone since it will determine company direction for a long time and will indicate the amount of sway Elliot and other investors have within the company. It must be an outsider who has control over Stankey and the rest of the management team. If that position is given to Stankey with McElfresh running the Telco side as CEO and somebody else running the content side as CEO then the company is doomed.

They have plans to line their pockets so they have to stay in place!!

The co architect of the failed acquisition strategy should never have moved up the ladder in the first place let alone be plugged in to fix the mistakes he created

Freaking snowflake just copied and pasted somebody else work. If you are not happy gtfo.

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Removing The CEO (OCT 26, 2020)

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