Chip Stepping Up and Stepping Down — at Exactly the Same Time

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Copyright Katie Nowacek

While it may seem a little early 🙂 I will be stepping down from whatever TISBI leadership roll I’m in on January 22nd, 2022. Beyond early, you might find such an announcement at this point strange or right or wrong or brilliant or inappropriate or appropriate or sad or cause for celebration or or or…. I look forward to discussing it with you. Through a conversation, I think you’ll find my planned departure helps TISBI grow quickly and on a solid foundation — and I’ll learn just as much. Though our discussion will be the most valuable, I will share this from Jay Hughes:

One of [Jay father’s] favorite lessons came from his experience as a member of several boards of directors. When a new chief executive officer had been elected, my father said, “I would go up and shake the new CEO’s hand and offer congratulations. He or she was naturally excited and feeling hugely successful since, in most cases, election as CEO represented the most significant event of the CEO’s life and the culmination of years of very hard work. I would then immediately ask, ‘Who is your successor?’ There would be a look of surprise, and then, in the cases of the great CEOs, deflation, humility, and comprehension took the place of elation on their faces. After all, the most important role in the management of an enterprise is arranging for orderly succession.”

James Hughes in Family Wealth: Keeping It in the Family–How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg)

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