7 reasons to remove a CEO
posted on
Jun 09, 2012 09:13PM
I found these 7 reasons to remove a CEOwhile searching the net. SLI shareholders have pretty much all of these reasons to have Lori removed as CEO.
The Seven Reasons to Remove a CEO.
Poor Leadership
-Lacks the confidence of key personnel
-Hires/retains weak people in key positions or fails to fill key roles in a timely way
-Fails to grow/retain successor(s) and/or create management depth
Poor Vision
-Lacks clear understanding of where business is going
-Lacks focus on organization and priorities or tries to keep too many balls in the air
-Is unable to strike key industry strategic partnership relationships
Poor Results
-Has major and sustained poor financial performance or missed targets
-Shows major loss of competitive position or market share
-Is unable to forecast timing/nature of recovery events or of revenue achievement
Poor Understanding of Business
-Misses key industry trends and changes
-Lacks understanding of fundamental profitability factors
-Cannot crisply define what it takes to win
Poor Work Habits
-Does not put heart and soul into business
-Sets bad example/role model for others
-Is not viewed in industry as a key player
Poor Management Style
-Allows top management infighting, not working as a team
-Demonstrates unpredictable decision processes or will not make tough decisions
-Starves key programs but spares sacred cows
Poor Board Candor/Communication
-Controls flow of information/agenda, preventing focus on or sufficient time for critical issues
-Does not allow ready access to VPs and other key individuals
-Keeps favorite nonstrategic programs or perquisites out of board review and approval process