There's a New Sheriff in Town (CEO)

Changes at the top of an organization often bring a sense of unease, particularly during challenging times marked by complex market conditions, disappointing shareholder returns, concerned suppliers, declining market share, and an authentic brand losing its appeal to customers. After all, the decision to replace a CEO is rarely made without significant cause.

What can you expect: primary focus on its dominating customers, key and strategic suppliers, and the companies top-management team. Sometimes a new CEO brings a top consulting firm to run an audit, and/or prepare a new organizational structure and identify areas for improvement and potential replacements. It can also be expected that the CEO will look at cost structures and identify areas for improvement.

All of the above will most likely lead to a strategic review, a new business plan, new objectives and KPI’s and will expect higher levels of accountabilities, at least the CEO will challenge his management team for that.

There might be leadership changes or structural adjustments to align with new objectives. The CEO may review the performance of key employees, possibly assessing your role’s alignment with future plans.

For you this means work on:

Visibility: As a key employee, this is an opportunity to demonstrate your value, align with the new vision, and build rapport with the CEO.

Influence: Position yourself to be asked for input on strategic decisions, presenting a chance to shape the company’s future direction.

Success

·       Offer to provide insights or assist in key projects to demonstrate your commitment and adaptability.

·       Stay transparent and professional, sharing critical information while aligning with the CEO’s vision.

·       Connect: Make sure to stay in touch with direct hierarchy, in the utmost professional way. Be aware they might not fit the CEO’s radar screen for tomorrow, at least some of them. Make sure HR knows you!

·       Position yourself as a critical contributor with strong relationships inside your company and their suppliers who understand process & finance.

Final Thought

This period of transition may be demanding, but it also offers an opportunity for reinvention and growth. By demonstrating adaptability, accountability, and a commitment to the company's success, key employees can play a vital role in navigating this change and driving the organization forward. Lastly, make sure to prepare a 2 minutes elevator pitch and while you are at it, have an up to date resume, for internal and external purposes!