Situation: A CEO, for personal reasons, is planning to move to another state. While he will remain CEO, he is concerned about the potential impact of this decision on the company, particularly the fact that he will not be present personally to handle matters that arise. What can he do to alleviate this concern? How will your personal plans impact the company?

Advice from the CEOs:

• Put a stake in the ground. Set a date for the move and work backwards to see whether this is attainable.
• Have a discussion with the company’s key managers.
  • Empower them to challenge the date.
  • Discuss this as a brainstorm to plan the future and what must be done to get there. Once a plan is established retest the timing.
• Consider this as a gradual transition. Start 3 weeks here / 1 week there, and gradually transition to 1/3. This will help you to determine how the company performs absent the CEO’s daily presence.
  • Move family but keep a small place here. Start the transition now and figure out balance. Do what is necessary.
• Have the key managers transition their roles before initiating the move.
  • This will provide confidence that they can handle this transition.
• As part of the process, look at areas where the company can use more support. For example, is HR up to snuff? What about information services or financial management? Prior to initiating the transition take steps to fill any gaps.
• Does the company have a formal metrics structure?
  • If not, establish one and in preparation for the transition see how the two managers manage this.

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