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I believe the point the author was making is that it is standard practice to replace the CEO and founding management team regardless of performance. They just p
by lowkey 17y ago
I believe the point the author was making is that it is standard practice to replace the CEO and founding management team regardless of performance. They just prefer to have their buddies at thee helm. In other words it has more to do with cronyism than business results.
- rjurney 17y agoI don't buy it. Why would a VC want to replace a founder that is kicking ass? If you don't make your numbers, expect to be canned. You work for the board at that point. Better yet, if you don't make your numbers - step down.
- fatdog789 17y agoActually, the board members have a fiduciary duty to the shareholders to maximize corporate performance. If the CEO isn't cutting it, it doesn't matter who he is, he should be fired.