When It Is Time To Move On
Just like when a president leaves office, so too a CEO can have a so-called “lame duck” season during those final weeks or months with a company. If you’re looking down the road at the last day you’ll drive your Mercedes in to your company, there are some things you should do in order to help things go well.
First off, you have to make peace with your status. You need to recognize that your situation is about to change. Understand that there will be people on your executive team who will try to just wait out your exit, and get your successor to support their pet projects. They’ll also start to suck up to your successor instead of you.
One of the best things you can do is to coach your successor behind the scenes. Support your successor, and build their confidence. Transfer some power before it’s required, as a show of support.
A lame duck CEO can make some unpopular and difficult decisions that are, ultimately, better for the company. Make sure, though, you do so in step with your successor.
Eventually, you will learn to let go of your company. Leave the office sooner, and become only available to helping your successor. At that point, you can be fairly sure the company is ready to move on without you.
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