When a CEO has been removed for failed leadership, it is best to have a new CEO waiting in the wings to take over. I have been in the middle of this transition many times and have often been the person announcing the change to the company and introducing the new CEO. I have seen this done well and I have seen this done poorly.
That first all-hands meeting is a critical moment for the new CEO. He/she needs to connect with the team, tell them who they are, what they care about, and, most importantly, where they are going to lead the Company.
Most of the time the team is shaken up, things are not going well, they are nervous. There may have been layoffs. There may be more layoffs. Calm, confident, assured leadership is what is needed. But it is also critical to show empathy for the team and humanity in the leader. A warm smile and a sense of humor can help a lot.
When explaining where they will take the Company, less is more. Companies cannot do that many things at the same time. Failed leadership often results in doing too many things. So a shortlist of things that the Company will do and a longer list of things that it will not do anymore is a great start for a new leader. If there will be more layoffs, it is best to say that right upfront. You must start off by being honest with the team. Anything else will doom you to failure.
Getting off on the right foot is so important. If you do it well, the team will rally around you. If you do it poorly, you are done before you even started.
The United States is getting a new leader today. I plan to watch his introduction to the country. I wish him well. Good luck President Biden.
