Tuesday, November 17, 2015

Why I’m stepping back from being CEO

I’ve loved being a technology CEO. It’s been 20 years, and the CEO journey has taken me from pride to humility, from exhaustion to exhilaration, from courage to fear and often all in the same day. It’s a fantastic job and a huge responsibility and I’m honored to have been trusted with the job not once but twice and in two very different markets. I’ve worked with talented executives, loyal investors, and customers who’ve become friends over the years.

And I’ve also always been incredibly conscious of the role I play in making it possible for other women to be high tech CEOs by simply showing it can be done in a world which is so biased against us.

But it’s time for me to step back. This has been a tough decision – and those of you who know me well will know what kind of war has been going on in my brain for the last 6 months – I’m not without ego after all! But I am very conscious that over the last 20 years I’ve traded so much as I focused on my career. Of course, my challenges are every working person’s challenges. Enough time with my children, supporting aging and dying parents, not enough sleep, not enough personal time. But I’ve become so much more aware of time passing since my mother died and now my father is 84 and far away and so I’ve decided to make different choices with my time. I feel very fortunate that I have that choice.

It’s hard, but balance is a myth if you are CEO (as I blogged in 2007). Every company deserves a CEO who is on 24/7. One who lives and breathes every aspect of the company, the future of every employee and the success of every customer. That’s just what it takes to succeed.

We’ve built a fabulous technology platform at FirstRain and one we’re proud of. It’s used by some of the biggest companies in the world and our customer engagements just keep getting deeper. I am truly delighted that YY Lee is going to take over from me as CEO - she has been with me every step of our 10+ year journey together at FirstRain. But more than that, she’s worked with me on and off across 3 companies over the last 23 years and I know she more than has what it takes to lead FirstRain through the next stage of growth. I could not be prouder of her. And I’ll be there to help her and the Rainmakers. I’ll stay involved as an active chair, work on strategy and continue to do the part of my job I love the most: working closely with our large customers.

And with the rest of my time? I very much enjoy my public company board work, and of course I’ll keep on coaching entrepreneurs and women (which I love to do), and being a feminist and a blogger. But more importantly I’ll spend more time with my father in England and with my family.

It’s not all perfectly clear to me but I’ll figure it out as I go along. I’ve been an obsessed CEO for so long now I can’t imagine too far ahead yet. But I’m sure I’ll work it out.

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