Ever wonder what happens when a founder gets 'promoted' out of the CEO role? Ryan and Will dive into the tricky terrain of founder transitions, exploring how it feels to be nudged into roles like Chief Vision Officer or Chairman—positions that often come when a new CEO is brought in. They discuss the emotions involved, the motivations of investors, and the strategies for turning this awkward moment into an opportunity. Whether you're in the thick of this situation or just want to be prepared, this episode provides valuable insights on maintaining dignity, negotiating effectively, and leveraging a graceful exit for future success.
Resources:
Startup Therapy Podcast
https://www.startups.com/community/startup-therapy
Website
https://www.startups.com/begin
LinkedIn
https://www.linkedin.com/company/startups-co/
Join our Network of Top Founders
Wil Schroter
https://www.linkedin.com/in/wilschroter/
Ryan Rutan
https://www.linkedin.com/in/ryan-rutan/
What to listen for:
00:24 The Founder Promotion Dilemma
01:07 Personal Experience with Founder Titles
02:26 The Gary Coleman Effect
03:21 The CEO Replacement Backfire
05:29 The Emotional and Financial Impact of Founder Reassignment
10:44 Board Mechanics and Founder Control
13:06 Investor Strategies and Founder Leverage
18:34 Facing the Reality of Founder Reassignment
23:17 Famous Comebacks: Steve Jobs, Howard Schultz, and Jack Dorsey
24:36 The Emotional Toll of Being Replaced
25:10 Turning Emotions into Positive Actions
25:46 Negotiating Your Exit Strategy
30:54 Crafting Your New Role
31:55 The Importance of Maintaining Relationships
37:00 The Worst and Best Case Scenarios