So you’re the new kid on the block…the new CEO. What are you going to do as you are stepping in to fill the shoes of your predecessor? Perhaps you are filling those shoes for a great reason: The CEO has run his course, retired and the Board is now passing the reins to you.
Or…perhaps it’s not under the best of circumstances. The previous CEO didn’t have the best run and is you’re now the replacement.
Today we have 3 dilemmas for you that every new CEO faces in the midst of transition.
Take for example the following:
2. Create a new legacy or build on the heritage. In many cases, as with Schultz at Starbucks, the latter enables the former or vice versa. Schultz returned as CEO in 2008 after seven years as chairman. Shortly after he returned, he closed all 7,100 US stores for three hours. The reason? To retrain the staff, en masse, on the proper way to make an espresso.
Schultz’s turn around of Starbucks is quite legendary, and it is a good case study for how you as a new CEO will enter into your own situation. Take a read at the further dilemmas and see how you are currently stacking up against them.
