Recently, venture-backed Logistics company Flexport announced that it had recruited Dave Clark of Amazon to join Flexport as that company’s CEO. That’s not news. Lots of young companies are considering new CEOs in this wonky economy.
What made this special was how it happened: the Founder/CEO Ryan Petersen initiated the CEO change, stepping into the role of Chairman instead. Ryan was quoted in Inc. as saying the following:
“Dave is better than the things we need to win at the next stage. My partnership with him means that we now have the full skillset and experience necessary to achieve this mission and we are committed to working together to make Flexport the best supply chain company in the world.”
By all accounts, Flexport was flourishing when this decision was made. Revenues are growing at 75% annually, likely to reach over $5 billion in 2022. Ryan Petersen had founded venture-backed Flexport in 2013 and had been running it as CEO for 11 years. He owns most of the voting stock at the company still. Ryan is well-liked – even revered – by the team and the board at Flexport. He made the decision independently, believing that Amazon’s Dave Clark could be even better and more effective at making Flexport a global logistics company. Ryan has committed to partnering with the new CEO, playing whatever role is most useful to Dave Clark and the company.
So why is this important now? Because the economy is changing quickly. New investments are getting much harder to source. And because there are hundreds of great Founders in Silicon Valley who could use an infusion of talent at the CEO level, folks who can help make their dream a reality.
There are amazing leaders in the market in 2022 who would love to partner with Founders as CEO.
Is it time for your Founder to get some help?