4 ms·
if there are any companies that have a CEO that was brought in from the outside not actually kill the company Here's another example: Big U.S. automaker going
by blogimus 18y ago
if there are any companies that have a CEO that was brought in from the outside not actually kill the company
Here's another example:
Big U.S. automaker going down the tank fast. This company hires former president from rival automaker, who was fired by the rival's chairman. Big U.S. automaker comes back from the brink of bankruptcy to be a market leader.
- deleted 18y ago[deleted]
- blogimus 18y agoAhh. The original criteria of "if there are any companies..." which I replied to is much broader than "young company takes large investment..." As far as the second condition, I'd agree that pushing a venture backed CEO is usually a recipe for failure. Once the company matures, well our thread hear shows that is a different story.
- tesseract 18y ago"Big, established, but failing company hires outsider CEO to turn company around" seems to be a different pattern (and one with a better track record - Lou Gerstner at IBM also comes to mind) compared to "young company takes large investment, has outsider CEO installed as adult supervision by investors", which pattern seems to often lead to trouble. Google comes to mind as a company that's well known for beating the curse of the investor-installed CEO; they did so by having the founders carefully vet the potential outsiders. Unfortunately this takes time so if you are running out of runway and need that investment in order to reach V2_min, you perhaps don't have that luxury.