By Zack Halmstad, Entrepreneur.com
“Bill Gates. Jeff Bezos. FedEx’s Fred Smith. Dave Thomas of Wendy’s. Mark Zuckerberg. If the business world had a hall of fame for founder/ chief executive officers, they would be some of its charter members. These innovators not only started high-flying companies but ran them for a long time, or still do.
They’re the exceptions, however. Here’s a more common scenario: Entrepreneur starts a company. Company grows. To take the startup to the next level, founder decides to surrender management control to a CEO from the outside but remain very involved as a strategic leader.”