Some founders make great CEOs until the end, some don’t. And some (like me) love the first 5 years, first $30-50 million in revenue, leading the first 150 employees but don’t love the role after that point. So sometimes even if you want to stay put (as Reid Hoffman did) – it may make sense to bring on the new CEO that is more experienced and enjoys more the scaling / large growth phase of a startup.
Some have it and some do not. It doesn’t mean that this is a less-than type of thing or that anyone is less valuable or capable, rather, it means that the person knows who they are and how best to serve their organization (and their own ambitions).
This requires a great deal of introspection and self-knowing. I think it also requires an incredible amount of humility which, unfortunately, is in very short supply.
The cost of not making these good decisions is not just the health of the company but the health of your employees and staff. They will bear the burden of the leader’s indecision.
A good reminder for all of us.