EP45: A Guide to CEO Succession

“Should I stay or should I go? Every founder asks themselves this question at one point or another,” says Alex Raymond, as he tackles the often taboo topic of CEO succession and transition with Evgeny Shadchnev, author of “Startup CEO Succession: A Founder’s Guide to Leadership Transition.” Evgeny shares his experience of stepping down as CEO of Makers, a software developing bootcamp he led for seven years, and discusses a nine-step roadmap for succession planning. In this episode, Alex and Evgeny emphasize the importance of early and open conversations about succession, addressing fears, and the need for careful planning. Evgeny highlights the emotional challenges founders face, like burnout and loss of identity, and underscores the necessity of recognizing and managing these issues. He also explores post-transition pathways for founders and stresses the importance of supporting the new CEO without undermining them. Join Alex and Evgeny in this episode to gain valuable insights for strategic and thoughtful planning to support a smooth succession and successful transition. Quotes “What I find really, really meaningful on a personal level is making a difference in someone’s life on a personal level.” (12:20 | Evgeny Shadchnev) “One thing I learned since stepping down is that nearly every founder CEO considers it at some point. I was absolutely not an exception. Not everyone chooses to. But everyone asks themselves the question: ‘Am I the right person for the next stage of the journey as the job inevitably changes?’” (21:50 | Evgeny Shadchnev) “The job of a founder or CEO really changes over time. And the more the founder reflects on what’s going to come next year or in two years’ time, and the more alignment there is with the board, the higher the chances that a win-win, successful, smooth transition is going to be found.” (24:34 | Evgeny Shadchnev) “No one leaves their startup they’ve been running for 10 years full of energy. Nearly everyone needs time to rest and recover, slow down, and just get in touch with what it is that they need deep inside. It’s also important to reflect because founders often quite literally don’t see opportunities ahead of them… So taking time to slow down and rest and reflect on your career options can be invaluable because this moment is truly precious.” (32:02 | Evgeny Shadchnev) “CEO succession takes time. The more time you have, the higher the chances that you will have a good succession.” (37:48 | Evgeny Shadchnev) Links Connect with Evgeny Shadchnev: LinkedIn: https://www.linkedin.com/in/shadchnev/ Website: https://www.evgeny.coach/ Connect with Alex Raymond: LinkedIn: https://www.linkedin.com/in/afraymond/ Website: https://consciousentrepreneur.us/ HiveCast.fm is a proud sponsor of The Conscious Entrepreneur Podcast. Podcast production and show notes provided by HiveCast.fm