[lighthazard]

So I'm the owner of a few companies, and I know for a fact that I'm not good at being a CEO. Is it advised to hire one? How does it work during company decision? If I wanted to fire him, how would that work? Is "Founder" a title higher than a CEO?

[jmeijers]

If you own the stock, you own the CEO. Dead simple.

But hiring a CEO can be tricky. A friend of mine hired one for his business and the guy cost a fortune, while all he could do was pretend to be really busy without actually doing anything. The had to fire him and lost a great deal of money.

I would always opt for a certain type of security in the contract, a bonus system which is activated when he realizes extra profit for example. Keep the salary low, and the bonus high (if he delivers!).

[Iamnotsatisfied]

It's pretty complex.... you can just hire a CEO to manage your business and then fire them whenever you want to...plus as mentioned before... the good ones are pretty expensive.

Best to just stick with a senior manager and give him a relaxed contract where you don't pay the earth in redundancy when you fire them or get your ass sued off... for unfair dismissal.... however finding the right one for the right price is pretty hard.

[lighthazard]

Thanks a lot guys! Answered my question exactly as I needed.

I think I'll hire someone on contract that if the company does well, he'll do well.

[chrisro]

Absolutely make it a performance based deal. Other things to keep in mind
1. Does he/she have direct industry experience
2. See a written strategy before hiring
3. Make sure the person managment style aligns with your current staff
4. Go with your gut feeling
5. keep close reigns until he/she proves that they are a fit

[melittle]

Yes surely you should appoint a well experienced CEO for the welfare of your organizations and also be very careful in appointing a managing head as you are going to transfer your decision power to some other person therefore make a sound contract with all necessary terms and conditions and fix a probationary period to judge his/her performance.

Good Luck