When the Board Wants a New CEO…

&and it isn't you. Here's what to know and do to ensure a successful transition for your company

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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