Partner @ The Mullings Group, Board Member, "24 in '24 Top Voices in Med Tech (MD+DI)", Host of The Bleeding Edge of Digital Health Podcast
Very few founders are equipped to take their company from ideation to exit, especially if the company makes it to full blown commercial launch. Even less are capable of taking the organization public, and scaling it appropriately. In truth, the same is true of any C-Suite role in a Med Tech start-up. Think about this....how many Founders have we seen do in Med Tech what Elon Musk, Jeff Bezos, and Mark Zuckerberg were able to do in Tech? While I am sure there are other examples, Reinhold Schmieding of Arthrex is the only one that comes to mind. The point is, it's beyond rare. In an early stage start up, one of the surest signs of success is when the company outgrows the Founder and the initial leadership team. This is not a negative thing. It means the team did what they set out to do, build a burgeoning company. At some point, the time usually comes to hand over the reigns to someone more well equipped to take the company to new heights. With so much at stake: Why does this happen so often with little to no planning? Why is a successor seldom identified long before the transition takes place? Why do BOD's, typically dominated at that point by career financiers/venture capital types, so often vote against the wishes of the outgoing CEO, and appoint a successor of their choosing? Why are world renowned CEO/Executive Coaches (such as the Bernie Haffey) seldom retained to ensure a smooth transition for the outgoing CEO, a fast start for the incoming CEO, and to assist the executive team members in processing the transition? Will you be at DeviceTalks Boston? If so, this will be a can't miss session around an all too seldom planned for event, CEO succession. And Senior Partner at The Mullings Group, Holly Scott is the perfect person to carry the dialogue.
The always incredible Holly Scott from The Mullings Group will surely have some uniquely relevant insights in a panel on #medtech CEO succession with Paul Grand, Marissa Fayer and Tal Wenderow at DeviceTalks Boston. Make sure to check it out! #DTBOSTON2024 #MEDICALDEVICES #MEDICALDEVICE #MEDTECH Tom Salemi Kayleen Brown
Thanks for the mention Mike Moore and yes, I will be DeviceTalks! #medtech #leadership
Mike Moore - thanks for the heads up! Full alignment is crucial for successful succession.
This is great! Always have a succession plan before business goes back to start up mode!
Thanks Mike Moore! I am looking forward to this discussion.
President & CEO at Canary Medical Inc.
8moThat is a great topic - and one rarely discussed. Looking forward to it.