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Up to 50% of New CEO's Fail in their first 18months(1)
Transitioning using an independent advisor and following a structured transition program can help increase your new CEO's chances of success.
12 Week New CEO Onboarding
Whether it be an outside or internal hire the first few months of a new CEO being a part of the business are critical.
From understanding the customers, your employee's skills and abilities, the Products, the revenue model or models in place, understanding the market and where it's going. and the strategy is all considerations that the new CEO has is in forefront of their minds.
To add on top without a mature boardroom process and lead the new CEO needs to understand the board, executive relationship, the power plays, and in some cases try and adjust or change strategy with the former CEO on the board.
Egress has a Structured approach for helping both the board of directors and the new CEO through this approach.
Chance Favours the Prepared.
Egress can help you with your Exgression Strategy Formulation, If it's a family transition, IPO, Sale, or retirement from the Executive role into a Chair's seat.
Chance Favours the prepared. Even if you may not be ready for exiting your business now. working on what you want and what strategies may fit you best will allow you to capture the opportunity when it happens and get the highest Time Earnings possible.
Major Changes to the Board.
Transitioning or Egression of Founders or Chair's from the Board of Directors.
(1) Dan Ciampa 2016 'Succession doesn't end when a new CEO is hired' Harvard Business Review