What happens to a company when a visionary CEO is gone? Most often innovation dies and the company coasts for years on momentum and its brand. Rarely does it regain its former glory. Here’s why.
Sourced from: steveblank.com
- Innovation CEOs are almost always replaced by one of their execution VPs
- If they have inherited a powerful business model this often results in gains in revenue and profits that can continue for years
- However, as soon the market, business model, technology shifts, these execution CEOs are ill-equipped to deal with the change – the result is a company obsoleted by more agile innovators and left to live off momentum in its twilight years