Handling Succession of First-Time Founder CEOs
My article in the August 24, 2007 issue of Mass High Tech, dealt with the issue of succession in startup companies that succeed in their launch, and then seek growth capital from VCs to reach the next stage. Despite success in launch, investors often force succession of the first-time founder with a new CEO experienced to scale the company to new growth. My article offers suggestions to try to make the succession successful for all sides. However, my article also takes account of the founder’s point of view and offers pointers to the first time founder on things to watch out for, how to respond, and how to protect your interest as a shareholder and employee when succession is to occur.