#104
Letting Go to Grow: Insights into CEO Succession with Evgeny Shadchnev
After stepping down as the founder and CEO of Makers, one of the UK’s leading coding boot camps, Evgeny Shadchnev became a certified professional coach specialising in helping entrepreneurs through CEO succession. In his new book, Startup CEO Succession, A Founder’s Guide to Leadership Transition, Evgeny draws on firsthand experience of stepping down as a founder CEO and as a certified professional coach, guiding other CEOs through the same journey.
From reflecting on our deepest motivations to choosing the successor and executing a smooth succession plan, Evgeny helps entrepreneurs and CEOs along with their boards to navigate leadership succession when the stakes are at their highest.
Summary
(07:18) Why did Evgeny Shadchnev start the company and what were the initial challenges faced?
- He began his company to step back from daily challenges, aspiring for broader business perspectives.
- There is a constant balance between long-term vision and immediate issues.
- Significant personal growth and shifting values over time as a founder.
(12:45) The impact of chronic disengagement on leadership and the organisation
- It leads to burnout, affecting both personal well-being and organizational culture.
- A disengaged CEO struggles to lead a motivated, high-performing team, exemplifying the extensive impact of a leader’s mental state.
- Advocates for servant leadership but warns of neglecting a leader’s own needs.
- It is important to recognise personal limits for sustainable leadership.
(18:30) Views on finding a ‘true calling’ and career reflection
- Evgeny doesn’t believe in a single, unchangeable calling; it evolves over time.
- Continuous self-reflection is vital rather than seeking definitive career answers.
- Have an ongoing feedback loop adjusting one’s career path with continuous personal querying.
(23:52) How important is internal learning and reflection for professional development?
Learning about oneself is as important as acquiring external skills.
Fields like psychology where internal reflection is already a key practice.
Integrate reflective practices in training across various professions to boost development.
(31:05) Managing leadership transitions and the involvement of outgoing CEOs
- Importance of involving outgoing CEOs in successor selection for their unique insights.
- Effective succession with Claudia Harris was appropriate for the company’s future direction.
- There is a need for honest communication during transitions, though not fully transparent for personal issues.
39:40 What are the effects of stepping down as a CEO and taking new career pathways?
Have a rest period, explore new opportunities, or join larger companies fitting within advisory roles.
Consulting with experienced individuals and new professional openings.
(47:23) How do financial incentives and communication with boards affect CEO retention?
- Financial motives alone won’t retain a disengaged CEO.
- Have ongoing, transparent communication between the CEO and board to address personal and business challenges.
- Deliberate discussions about potential transitions prove beneficial in preventing abrupt changes.
(54:12) What advice would you give to potential founders struggling with identity fusion and considering stepping down?
- There is a common struggle of separating personal identity from the company.
- Suitability for CEO roles often emerges through experience, not prediction.
- Loss aversion and emotional investment are challenges for founders contemplating stepping down.
1:03:17 How did stress factors influence Evgeny Shadchnev’s decision to step down?
- Closing an investment round, personal divorce, and team departure collectively led to his decision.
- Advises founders to reconnect with why they started their company, paralleling career reassessment advice.
- His book encourages open dialogue among founders about stepping down or persisting.
Links mentioned:
Startup CEO Succession by Evgeny Shadchnev
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