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weekend wOrrier
Join Date: May 2011
Posts: 6,270
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My CEO upped and vanished like a fart in the wind.
Yup.
I've never been in such a situation before. As far as I can tell, he resigned. This is about a 30-40 person outfit, and there had been some ongoing challenges in getting sustainable revenue. My department has always been profitable, however, I recently broke my hand and it challenged the outfit even a little more, although, as of this week, I am back in the game with a vengeance. He was there at the clinic's inception, and it is odd he would just bail like that. The only other CEO I know of at a similar clinic only bailed when she was out of ideas and had nothing else to offer to fix the problems. I'm a little nauseous, and trying to act calm, but that's kind of weird. Do CEO's just bail like that? And when the captain of the ship jumps overboard- that just can't be good? Right? 
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10-30-2015, 10:37 AM
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Dog-faced pony soldier
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Better offer. Poof, gone.
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10-30-2015, 10:38 AM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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Do they just bail like that?
Yes, sometimes they do. Should you be worried? It's not a good sign but may have more to do with him than the state of the business. I'd ask, are your vendor bills being paid on time? Payroll? Those are two of the biggest indicators of an impending poo storm.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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10-30-2015, 10:43 AM
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FUSHIGI
Join Date: Feb 2006
Location: somewhere between here and there
Posts: 10,764
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relapse or rehab? dirt nap?
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Cults require delusions. |
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10-30-2015, 10:54 AM
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beancounter
Join Date: Jan 2008
Location: Weehawken, NJ
Posts: 3,593
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I'm CFO of a 700 head firm for the last 6 years. In my experience CEOs have a short life span. I'm on my 3rd CEO.
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10-30-2015, 11:02 AM
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Driver, not Mechanic
Join Date: May 2013
Location: SF Bay Area
Posts: 3,006
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I would be worried if he is the founder as well.
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10-30-2015, 11:56 AM
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Registered
Join Date: Jun 2000
Posts: 3,445
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CEOs that ar not coming from the core of the business are usually neither good nor long lasting.
There is a turnover of CEOs that don't seem to gat tainted by their previous companies misfortunes, since they leave every so and so years. The modern, CEO-school formed CEO does not seem to have accountability. My company is on its 5th in 8 years. |
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10-30-2015, 12:41 PM
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FUSHIGI
Join Date: Feb 2006
Location: somewhere between here and there
Posts: 10,764
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Truth.
Quote:
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Cults require delusions. |
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10-30-2015, 01:10 PM
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weekend wOrrier
Join Date: May 2011
Posts: 6,270
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yeah.. According to his interim successor, who was trying not to get emotional while addressing the group, the CEO was a core founder and instrumental in creating the whole shebang.
 This wasn't an Enron type environment, it's a community health clinic
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10-30-2015, 01:23 PM
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Registered
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Maybe hiking the Adirondacks with his Argentine girlfriend.
Now is a good time to chat with the CFO about cash flow and payables. If the company is sound and the EX just had a personal checkout, maybe you are due for promotion to management. Start asking questions to find out how leaky the seals are.
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2009 Cayman PDK With a few tweaks 2021 Cayman GTS 4.0L 2021 Macan (dog hauler) |
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10-30-2015, 01:25 PM
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Registered
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Quote:
 One thing I've learned from my time in the military is NOBODY is irreplaceable. Not exactly the same situation, but when I was a young Sergeant, i had a Sergeant Major who was considered a "god" by all who knew him. One day, on his morning run, he died. His replacement was in the seat 2 days later, and business carried on as usual. Really opened my eyes.
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Guy '87 944 (first porsche/project car) Last edited by gacook; 10-30-2015 at 01:28 PM.. |
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10-30-2015, 01:26 PM
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Driver, not Mechanic
Join Date: May 2013
Location: SF Bay Area
Posts: 3,006
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I could speculate on a lot of reasons. Personal issues, like divorce/marital issues, loss in the family... Or financial: cooking the books, house of cards finally crashing, or simply no revenues... I'm being cynical.
I feel for the people left behind. |
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10-30-2015, 01:31 PM
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weekend wOrrier
Join Date: May 2011
Posts: 6,270
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Quote:
Last edited by LEAKYSEALS951; 10-30-2015 at 01:48 PM.. |
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10-30-2015, 01:34 PM
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weekend wOrrier
Join Date: May 2011
Posts: 6,270
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Well Crap!
As a "breaking news!!!!" flash to "My CEO up and vanished like a fart in the wind" thread, My CFO (who is also my CCO), as well as some other individual who probably has an acronym title of some sort, both Jumped ship today.  That's bad? Right? Hmmmmmmm...... My resume: Ron, Dentist (I'm the 1 dentist in 10 who disagrees with everything). Works on cars, guitars. Lots of power tools Silly photoshop hobby Likes bikes. 90% Passive 10% Aggressive. Never spends more than 2 hours daily checking Pelican Parts while at work Yikes!!!! 
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12-07-2015, 02:19 PM
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Too big to fail
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Quote:
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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12-07-2015, 02:30 PM
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weekend wOrrier
Join Date: May 2011
Posts: 6,270
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Quote:
R |
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12-07-2015, 02:35 PM
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B58/732
Join Date: Feb 2000
Location: Hot as Hell, AZ
Posts: 12,313
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C'mon, man, you're a dentist. It's not like teeth are going out of style.
Unless you live in the UK, of course. You don't live in the UK, do you?
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ΜΟΛΩΝ ΛΑΒΕ I don't always talk to vegetarians--but when I do, it's with a mouthful of bacon. |
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12-07-2015, 02:48 PM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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Quote:
Just do your everyday thing, go to work and do your job while you prepare for leaving, either of your own free will or not. If your group was profitable you may just end up being sold off relatively intact. Seen that happen plenty. Good luck.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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12-07-2015, 04:51 PM
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I see you
Join Date: Nov 2002
Location: NJ
Posts: 29,921
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Yeah that's not good. Best of luck Painless!
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Si non potes inimicum tuum vincere, habeas eum amicum and ride a big blue trike. "'Bipartisan' usually means that a larger-than-usual deception is being carried out." |
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12-07-2015, 05:12 PM
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Registered
Join Date: Sep 2012
Location: Newport Beach CA
Posts: 1,873
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Check the petty cash,,,,,
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12-07-2015, 05:15 PM
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Lil Red
Cayman
1987 Porsche 944
2009 Ford Mustang
