Should I Move Aside and Let a Professional CEO Run My Company?

Abstract

This chapter addresses the stage at which entrepreneurs figure out that they have reached their level of incompetence (Peter & Hull, 1969) and how they might overcome it. Recommendations are made to aid entrepreneurs realize when this key moment has arrived, as well as to lay out an action plan to help them either become a professional Chief Executive Officer (CEO) or move aside and let a professional CEO run their company. Based on a state of the art review, this chapter identifies the most valued personality traits and skills, as well as leadership styles, for both entrepreneurs and professional CEOs. Those attributes are summarized as ideal job descriptions to help CEOs detect gaps between their current personality profile and the one that best meets company needs at each stage of the business’ lifecycle.

Citation

Hurtado-Hernández, M., Debernardo, H. and Ordoñez-Torres, A. (2020), "Should I Move Aside and Let a Professional CEO Run My Company?", García-Álvarez, S. and Atristain-Suárez, C. (Ed.) Strategy, Power and CSR: Practices and Challenges in Organizational Management, Emerald Publishing Limited, Leeds, pp. 165-185. https://doi.org/10.1108/978-1-83867-973-620201010