WeWork, eBay and Juul all fired their CEOs this week. Others are going to talk about why. This article is written for those considering taking their jobs:
will lead to your failure no matter what you do.Now, let’s look at these three situations of potentially replacing a bad manager at WeWork, a CEO with a bad strategy at eBay or a CEO with a bad product at Juul.described WeWork’s fired CEO Adam Neuman as “an erratic and controversial chief executive.” His entrepreneurial vision and spark was amazing. He built WeWork from scratch into something amazing.
In the end, his behaviors played a significant role in the company’s failed IPO. And the investors had to push him out. Of course, there are some lingering problems around whether this company is really a life-style/tech company deserving a multiple appropriate for potential rapid growth or a real-estate company with a dramatically lower multiple. And there are some short-term cash issues.
But, if you’re offered the job as CEO of WeWork, the risk is manageable. You can rebuild trust with employees by being a good manager. You can fix the cash issues. You can rebuild trust with the investors. You can succeed – if you manage the risk.describes the events leading up to CEO Devin Wenig’s firing well.
“EBay has made deliberate and pragmatic choices not to chase hot e-commerce trends or low-margin areas such as groceries and instead focus on its strengths: its loyal customers, global reach and a business model with better economics and less risk than many online retailers. The approach is sensible, but eBay has been missing opportunities as online shopping reshapes the $20 trillion in annual global retail spending. Investors had lost faith in the company’s approach.
This is a classic mission-crippling risk for you if you’re their next CEO. Unless you can figure out a way to capture a share of the increases in online shopping, you’re not going to regain your investors faith. The point is that it’s possible, but not probably. The judgement call for you is whether this risk is merely mission-crippling or actually insurmountable.
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