Archive for the ‘C-Level’ Category

Four Cases When Hiring an Interim CEO Makes Sense — Even for a Young Startup!

10 October 2012

Number 4

I’ve done 10 interim CEO / interim COO gigs during the last 10 years.  In my view, there are four cases when hiring an interim CEO make sense:

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  1. For The First 3 – 18 Months of a Startup: As detailed in this post (which in turn was prompted by a post from Flybridge Capital Partners venture capitalist Michael Greeley’s) there are times when hiring an interim CEO at the formation of a startup makes sense.  Adding the experience of a senior, successful entrepreneur to the passion and vision of the founding entrepreneurs can increase the likelihood of the venture’s success.  (This is the role I played at Ember Corporation.)
  2. Helping a Founding CEO: Often, later in a startup’s life, a founding CEO can use help.  Rather than terminating the founder and “throwing the baby out with the bath water,” a better solution might be to bring in an interim COO to counsel the founder, and – in many cases – to actually (more…)
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Report: 8 Cases When VC’s / Boards Should Hire An Interim CEO

25 February 2010

The Economist recently reported that venture capitalists and boards of directors of European companies are far ahead of their US counterparts in understanding when it makes sense to hire an interim CEO.  Now, a new report out of the UK – which has perhaps the most sophisticated interim management services in the world – details eight cases when a board should consider putting in an interim CEO.

I’ve listed them below, but first three other key points from the report:

  1. Interim CEOs are not consultants; rather, they are hands-on workers.
  2. Interim CEOs are not potential employees; the good ones do interim work as a way of life (and not as a “filler” until a poor economy improves.)
  3. Interim CEOs can be taken into the confidence of a board (as an interim person has the advantage of impartiality.)

The report also talks about why younger and younger executives are turning to interim management as a way to achieve a more flexible and rewarding career.  While delivering significant benefits to the client, interim managers provide themselves with (more…)

The Economist: “Why Many USA Companies Now Hire Interim CEOs.”

30 December 2009

The Economist has a great article about the type of work I’ve been doing for ten years, Interim CEO. The piece addresses why many American companies are now adopting a practice that originated in Europe, and why so many top-notch execs are enjoying these temporary CEO jobs.

The Economist postulates that “interim executives may be the wave of the future in all rich countries, as these countries evolve from what Peter Drucker called a ‘society of organizations’ into a ‘society of networks.’”

Why Companies Do It

The article details three reasons why a company might choose to (more…)

Building on Michael Greeley’s Idea for Senior Successful Serial Entrepreneurs Joining Startups

31 October 2009

StartupI agree with venture capitalist Michael Greeley of Flybridge Capital Partners who recently stated that building companies demands great passion, vision and intelligence but “it also helps to have done it before.”  He goes on to say that what the marketplace really needs are “senior successful serial entrepreneurs” to serve on the next generation of entrepreneurs’ boards, to open up their rolodexes, and to share what worked and what didn’t work. He ends by noting that, “such mentorship is difficult to find.”

I would like to build on that suggestion; rather than having these serial entrepreneurs simply serve on boards, I suggest that in some cases they should actually serve as the startup’s interim CEO while the company is getting off the ground.

Every startup has a myriad of details and actions that need to be done. Rather than having a board member who simply advises, “You need to do this; and you need to do that,” in many cases the startup would be better served by (more…)

Report: “Need for Interim Change Management Increases Dramatically in One Year.”

4 May 2008

Executives Online, a firm specializing in placing interim C-level executives in Europe, reports today that the demand for CEO / COO to perform Change Management has increased 220% in on one year. They attribute this dramatic increase in demand to a combination of the impact on all types of businesses of the problems in the financial markets, as well as the US recession.

This is good news for people (like me!) who specialize in interim ‘Change Agent’ type assignments.

Six Things It Takes To Be A Good Interim Executive

4 May 2007

number sixMy post, “Three Cases When Interim Executive Management Make Sense” focuses on Interim Executive Management from the company’s point of view.  An article published in the UK focus on Interim Management from the person’s point of view.

I’m still a little surprised when I find myself recommending that, under certain circumstances, companies should make interim appointments at the executive / C-level.  “Short-term” is simply not my nature.  But some of the comments in the article help explain why, for the last decade, I’ve enjoyed success in a handful of assignments both in the States and in Europe:

  1. Fixing Things Fast:  Interim executives need to enjoy fixing / changing things in a defined period of time.
  2. High-Pressure Situations:  Interim executives need to be passionate about the task at hand, with a strong ability to succeed under high-pressure situations.
  3. Hands-On Role:  Interim executives need to become an integral part of the organization; most employees open up to them, providing key support for a rapid solution.
  4. Loyalty:  Interim executives develop a keen sense of loyalty to the organization, particularly to the need to improve it.
  5. Prior Knowledge:  Interim executives bring to each organization the learnings from many other enterprises, allowing for rapid improvement.
  6. Permanent Interim:  The best interim managers are those “who do it for a living” and are not simply “between jobs.”

The article’s not particularly well written, but it’s a quick read if you are so inclined.