Archive for the ‘Steve Hafner’ Category

One Way a Founding CEO Can Survive Their VC

7 October 2012

SurvivorMany (most?) founding CEOs don’t survive their VCs.  As Galen Moore states in his Mass High Tech piece, “Venture capital investors are notorious for investing in a startup, then replacing its founder with a more-seasoned CEO from their network.”  Galen highlights four founding CEOs that have survived, though the article is a bit light on specifics as to how each achieved their success.

Here’s one way: In the last decade, I’ve seen first-hand a number of companies where a founding, first-time CEO heads the VCs off at the pass by bringing in a seasoned COO, on an interim basis, to help them through a rough patch.

It’s true that half of my ten interim assignments have been as CEO, where the VCs wanted to replace a founding CEO.  In each case I was asked to take over from a fired founding CEO and “right the ship” before an executive search for an industry-specific CEO could be undertaken.

But the other five interim assignments have been as COO, where the founding CEO themselves decided (more…)

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