Nothing in life stays the same forever, whether it’s our professional life or personal life. In our professional work life we have to cope up with everything around us. It doesn’t matter what position we are appointed to, we have to satisfy our boss and be our best at our job. Sometimes when the CEO of the company we work in gets retired and is replaced by his\her heir or the CEO appoints someone else in his\her place, or there can be some other circumstances as well due to which a new CEO takes over the company. It is obvious that when the most senior position is taken by or given to someone else, that person brings the changes with him\her self. The CEO is the owner of everything in the company so everything works according to his\her instructions. There are several things that happen once a new CEO takes over the company. Let us know ‘What Happens When A New CEO Takes Over?’.
what happens when a new CEO takes over?
Every person who has authority brings changes according to his\her preference. Some of the most likely changes usually happen when someone else takes over the authority are mentioned below:
1. Gets to know the employees
The first thing a new owner does is that he\she tries to get knowledge about the people working for him, especially the senior employees. The new CEO would conduct meetings and interviews and look over the performances and previous records of the employee. It is important for him\her to have knowledge about the people working for him\her and create understanding between him\herself and them.
2. Learns about company’s progress
The new CEO looks over the current and the previous progress of the company. He takes all of the business deals in his account and also gets to know about the business partners and investors. Basically he gathers all the knowledge about the company and all the future business plans and strategies as well.
3. Makes new strategies
After learning all about the company and employees, the CEO conducts meetings to strategize and plan for the future of the company. He\she asks the other employees about the planning of the future from their point of view. Come up with new ideas and plans for the betterment and further progress and also get to know about how his employees think.
4. Sets new rules and regulations
Though it is not necessary, most of the time the new CEO makes changes in the protocol of the company according to his preference. There might be some things that the previous CEO liked and the new one doesn’t. So the employees have to follow the protocol set by the current CEO.
5. Hires or removes employees
Since the new CEO takes notice of all his employees, he might remove a few of them if they don’t have satisfactory performance, it is up to him. He might also hire some new employees if he\she thinks there is a need for more employees or simply a replacement for the ones who have been fired.
6. Gives new instructions and training
Some new CEOs give the employees training if they are not giving satisfactory performance and not living up to his\her expectations. He or she also gives some instructions that the workers might not be familiar with but there is no other option than to follow the new owner’s instructions and work the way he\she wants.
What you should do when a new CEO takes over?
The thought which comes to an employee’s mind is what to do when a new CEO takes over the company, now that the company might alter it’s way of operating, the employees also have to do certain changes in their work according to the preferences of the new boss. Here are a few things an employee should do when a new boss takes over the company:
The first thing any employee should do is be corporate. He or she should show cooperation among each other as well as with the boss. Don’t go against the new boss and try to agree with what he\she says. It is not wrong to give opinions but try not to go against any of the things of the new CEO.
2. Behave well
The next thing is that a worker has to be cautious about his\her behavior. Stay in control and try to be kind and respectful to everyone and especially the CEO. Your behavior can affect your whole career and progress as well.
3. Impress the new owner
A very critical and important thing is to impress the CEO. Earning the faith and goodwill of the CEO which would be very beneficial for you. Don’t try too hard but try hard enough to impress him\her. It might be a chance for your promotion as the new CEO would want to find the best among his employees.
4. Understand the CEO’s criteria
To satisfy the new CEO with your job you must understand how the CEO prefers the work to be done. There must be a certain way of doing things he\she prefers. We have to learn the working pattern of the CEO himself so that we could try to work the same way and be more successful. See things and come up with plans that would be good from the CEOs point of view.
When the new CEO conducts !meetings and interviews, make sure to present your fair share of your opinions. Come up with good plans and don’t be afraid to share them if they are good enough. Give your opinions on the progress of the company and also suggest new ways for the development of the company and all necessary changes you think would affect the progress of the company. Interact with him\her and other employees as well.
By putting the above mentioned principles in practice we will not only be aware of the situation and environment when our new boss is appointed but we’ll also know how to handle the situation accordingly and hopefully manage to impress the new CEO. If we manage to do this then our professional life would be very successful. It might take some time and effort to earn a higher position and your boss’s faith but it will definitely be worth it.
Frequently Asked Questions
Here is the answer to some most frequently asked questions related to the topic:
1. Does anyone have authority over the CEO?
Ans. The only person who has authority over the CEO is the chairman. Chairman can fire, appoint new or discipline a CEO.
2. How often do new CEOs are appointed?
Ans. New CEOs are not appointed frequently. This happens over the course of decades. It might take 10 or more than 10 years to change the CEO. Sometimes the CEO can obtain his position for up to 20 years.
3. Why are employees not happy when a new CEO is appointed?
Ans. The workers are mostly unhappy because they don’t know the person who will become their new boss. Such a big change might affect the course of everyone’s career.