When the Board Wants a New CEO…
You're still nursing your hangover from the funding celebration party, thrilled that your startup is flush with cash after months of scrimping and scraping (see BusinessWeek.com, 1/22/07, "Rules for Raising Capital"). Now the financiers want to beef up the executive team. First order of business? A new CEO. Hey, wait a sec—that's your job. Well, maybe it is better for the company's future to have a seasoned CEO, but why wasn't this discussed in the financing process?
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