Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.
Case
-
Reference no. E71
Subject category: Entrepreneurship
Published by: Stanford Business School
Originally published in: 1999
Version: September 2002
Length: 15 pages
Data source: Field research

Abstract

The case describes the difficult times leading up to the arrival of a new CEO at Vicinity Corporation. The case gives background on the new CEO as well as on the company. After two successful rounds of funding and successful product development, the company ran into serious trouble. It began to miss all of its financial projections and employees had very low morale. The Board decided to make some changes and relieved the founders of their leadership roles. The difficult negotiations are detailed in the case. Next, 50% of the staff was laid off and the case describes that process. Finally, the Board began looking for a new CEO to pick up the pieces. After interviewing a number of candidates, the Board found a leader they were happy with and installed him as CEO. The case ends as the CEO starts and determines what he needs to do to make the company successful.
Industry:
Other setting(s):
1999

About

Abstract

The case describes the difficult times leading up to the arrival of a new CEO at Vicinity Corporation. The case gives background on the new CEO as well as on the company. After two successful rounds of funding and successful product development, the company ran into serious trouble. It began to miss all of its financial projections and employees had very low morale. The Board decided to make some changes and relieved the founders of their leadership roles. The difficult negotiations are detailed in the case. Next, 50% of the staff was laid off and the case describes that process. Finally, the Board began looking for a new CEO to pick up the pieces. After interviewing a number of candidates, the Board found a leader they were happy with and installed him as CEO. The case ends as the CEO starts and determines what he needs to do to make the company successful.

Settings

Industry:
Other setting(s):
1999

Related