Thread regarding FTD layoffs

FYI if interested in the "why?" behind an interim CEO

So, someone on another thread pointed out multiple CEOs. In reality, not all were permanent, some have been interim only.

Why hire a temp–whoops!–I meant interim CEO?

According the Harvard Business Review...

Interim CEOs are very common

But performance suffers and likelihood of failure is more common

The majority of interims are insiders

There is a focus on "short term tactical crisis management" (um, like how much to downsize to be able to tread water?)

Business Insider argues that they are a bad idea...

Lesson for the day: If looking for job security in a COVID-19 economy, DON'T sign up anywhere where they don't have a permanent CEO. Also, an externally sourced interim usually signals that no one internal had the chops necessary to deal with crisis management, which is pretty much a skill set now needed with the Coronavirus run amuck.

Wonder if any of the new leadership people installed were hired and contracts signed anticipating the Wuhan originating Coronavirus might strike in the USA? Because if hired before this was even considered, you can't back out of onboarding I don't think. If contracts are signed, Promissory Estoppel may come into play. Can't rescind the job offer without consequences!

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