2000 | Case No. E71
The case describes the difficult times leading up to the arrival of a new CEO at Vicinity Corporation. The case gives background on the new CEO as well as on the company. After two successful rounds of funding and successful product development, the company ran into serious trouble. It began to miss all of its financial projections and employees had very low morale. The Board decided to make some changes and relieved the founders of their leadership roles. The difficult negotiations are detailed in the case. Next, 50% of the staff was laid off and the case describes that process. Finally, the Board began looking for a new CEO to pick up the pieces. After interviewing a number of candidates, the Board found a leader they were happy with and installed him as CEO. The case ends as the CEO starts and determines what he needs to do to make the company successful. Teaching Note available.
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