There's our board/management issue. At least it is clear now, and hopefully isolated at that level. Hopefully it is not our board that are the problem.
Not uncommon for young companies to find it difficult to transition from founder led to professional management. Typically a combination of founders not knowing how to let go and management thinking they know better than the founders. Particularly prickly when the founders still own lots of equity (that is deteriorating)
Should be a fairly simple transition so no reason why performance should deteriorate unless there is a significant culture problem throughout.
Ann: CEO Resignation and Transition Arrangements, page-11
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