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March 15, 2022 | 4-minute read (694 words)
Jack Dorsey's surprise departure as Twitter CEO in November 2021 caused quite a stir, especially after his hard-won success over an activist investor who tried to oust him a year earlier. Some commentators questioned whether Dorsey's departure heralds a new age in which founders choose to leave their companies when they achieve a particular degree of maturity rather than staying for decades or waiting to be replaced.
According to a Harvard Business Review study, the ideal shelf life of founder-CEOs is likely shorter than most people think. The study’s authors write that while founders play a vital role in creating and growing new businesses, their worth diminishes when companies evolve beyond the IPO stage. The authors recommend that founder-CEOs make plans to cede control to someone better suited to oversee the company after the IPO.
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