Friday, April 13, 2012

Zuck shows the way! Management by not wasting time.

I read this interesting story by Paul Sloan at CNET yesterday which stipulates that Mark Zuckerberg is not meeting his upcoming IPO bankers because he has more important things to do.

More important things to do. Wow.

In an era where it is quite common for former CFOs to become CEOs it has become almost inconceivable that a CEO might not have the time to meet with bankers. 

No disrespect to bankers or the importance of IPOs but there are many items on the CEO agenda that are more important than meeting with bankers such as interacting with customers, developing the product and the team etc. I.e. running the company.

Meeting with bankers does not equate running the company although I suspect former CFOs are more susceptible to falling into a pattern of asking Wall St. what they want, instead of paying attention to the customer base. This always leads to disaster.

Send the CFO instead. That is what he or she is for. Hanging out with other bankers. Just don't promote them to CEOs, especially not in companies in fast-moving and tech-heavy industries.

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