When is it Time for a CEO to Move On?

Ah, the illustrious CEO. The captain of the corporate ship. The visionary leader. The person who, at the company Christmas party, claims they could have been a rock star if they hadn't gotten into "this whole business thing." But just like that suspicious yoghurt at the back of the fridge, there comes a time when a CEO reaches their expiry date.

Given the recent events in WA with the West Coast Eagles and their most recent coach of 11 years, Adam Simpson, this topic feels particularly relevant. I understand he is not the CEO, however, Trevor Nesbitt was for many years and many believe he held on too long to the role. Interestingly, Adam has all the marks of a quality CEO, he is cool under pressure, a team builder, well-structured, a great communicator and well-respected by peers and team members. ?

?

So, when is it time for a CEO to move on? Let's dive into some humorous signs that suggest it's time to hang up the executive suit.

If my vocabulary consists solely of phrases like "synergy," "paradigm shift," and "leveraging core competencies," it might be time to take a step back. When every meeting feels like a corporate jargon jamboree, it could indicate that fresh ideas have dried up. Remember, there's a fine line between being innovative and being a walking, talking management textbook. Am I a doer? As CEOs, we must delegate positively. Good delegation leads to learning and growth, not just giving a lousy job to someone else.

If I or your CEO frequently start sentences with "Back in my day," do I wax poetic about the golden age of fax machines and dial-up internet? Rember the squeals, of that familiar tone? I know I don’t go on about it, however, I have! If my stories sound like a prequel to the History Channel's latest series, it's a clear sign I might be out of touch with the present. Nostalgia is lovely, but running a modern business requires a bit more than a fondness for floppy disks. We need to lead from the front, out and about, growing and supporting.

?Some of my contemporaries still think attaching a file to an email is a Herculean task. They struggle with constantly asking how to "CC" someone or if they should "reply all" (the answer is almost always no). It might be time to bring in someone who can navigate the digital age without a manual. Nb: For anyone suggesting I’m ageist, please don’t!

Ah, social media. The great equaliser. Those who know me clearly know social media is my friend. However, if your idea of a social media strategy is posting once a year with the caption "Hello, fellow kids," you might need a gentle nudge toward retirement. A CEO who understands the power of social media can drive engagement and growth. One who doesn't might just end up trending for all the wrong reasons.

When employees start to whisper, "Isn't it about time?" or "Shouldn't they be golfing by now?" it’s a sign. CEOs should inspire, not inspire exit strategies. If my workforce is more excited about the possibility of a new leader than the annual bonus, it might be time for a transition.

Innovation is the lifeblood of any successful company. If my idea of innovation is changing the colour of the company logo every three years, it’s probably time to move on. When the only thing evolving is my hairstyle, as grey as it might be, the company might be stuck in a rut.

Lastly, if they become more elusive than Bigfoot, it’s a red flag. A good leader should be visible, approachable, and engaged. If they become a mythological figure, only appearing at board meetings and company parties, it’s probably time to consider someone who can actually be found in the office.

Every CEO has their day, but knowing when that day has come is crucial for the health of the company. A quality CEO has the brand and the company foremost in their heart. Moving on doesn't have to be a dreaded affair; it can be a positive, strategic step toward fresh ideas and renewed energy.

So, if I or your CEO ticks off more than a few of these humorous signs, it might be time to start looking for the next leader. And who knows? We might even thank you for the early retirement...or at least, you'll stop hearing about "the good old days" every Monday morning.