With 70% of small and midsized business owners poised to retire, the owners, their families, their loyal employees, and their customers deserve a structured and effective succession plan. Here’s how one company did it right.
There are times when a CEO should step down and replace himself. Steve Ballmer, CEO of Microsoft is doing just that. I’m a big believer in CEOs. They can do great things, and can adapt amazingly—if they have the energy and choose to change. My work is all about helping CEOs step up their game. But many CEOs, usually in tough times, wonder if they should hang it up.
For company founders and sitting CEOs, the decision to pass the CEO seat to another is a big, risky decision. This article talks about how critical boards are– especially for closely held companies.
Imagine how bad it must feel for a business owner or CEO to toil for years, only to have to accept a low price (or nothing) when they sell the business. It happens all too often. This article lays out seven essentials for a pleasurable exit. Mid-market CEOs under-invest in training themselves on how to prepare their firms for an exit.
When the CEO is the new hire in an existing company, he or she needs to be the architect of a well-thought out plan to produce the best possible results. Here’s how Bob Fahlman, CEO of Paradigm, did just that.
Every successful startup goes from an entrepreneurial stage to a professional enterprise. Not all of the founding team can make the transition.
Companies don’t need to sacrifice their reputation for money. By planning ahead for an ownership transition and hiring possible successors, the founders can build long-term value in the enterprise. Matt Henry, now President and CEO of Fehr and Peers, shows us how it worked in their case.
What would happen to your company if you disappeared tomorrow? Tom Friel, CEO of Heidrich and Struggles, sparked a great discussion about succession at a meeting of the Alliance of Chief Executives.
Semiconductor equipment manufacturer Mattson Technology (MTSN) was in deep trouble, and replaced its founder with a new CEO, Dave Dutton. Read how Dave built a new leadership culture amidst the transition chaos and set a more prosperous course for the company.
Founders of companies display a passion that their successors may not. Partha Sarathy of Aztec Software had to deal with just such an issue as he chose to bring in his own replacement.
Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).