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Digirad Corporation Message Board

  • retiredtechie retiredtechie Jan 23, 2006 2:36 PM Flag

    My Story/ 4 New CEO's In 18 Months

    In regards to your concerns about leadership changes at the top, I'll give you a quick snapshot of what happened to me in a company of 550 employees during the mid nineties when we blew through 4 CEO's in 18 months. It was an extremely difficult period to say the least for management types at all levels including myself.

    We had a CEO at the company for 8 years and he basically produced break even performance with the exception of a year or two of slightly below/slightly above break even performance. The B.O.D. of this publically traded company decided a change was in order. CEO change #1 was a previous Sr. Vice President at the company. He made some decisions without B.O.D. approval that led to his release within 9 months. CEO change #2 was a former founder/CEO of the company. He re-appeared to take this position in his late 60's. Due to health problems, he had to resign after 3 months on the job. CEO change #3 came aboard after a very intensive search outside the company for the right person. As it turned out, he resigned for unknown reasons after being on the job for 6 months. CEO change #4 came aboard after another intensive search for the right person. Very fortunately, CEO #4 was able to re-energize the company within a couple of years and he now has a nice success story going for him. He totally re-engineered the company, brought in some high quality talent and they are still going very strong today.

    Please don't tell me it can't be done under the right leadership. If the resources are there to enable, then the right person can make the difference. In my opinion, unless someone can convice me otherwise, it will happen at DRAD too. The potential is there.

    Cheers,
    Retiredtechie

 
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