Lots of interesting things occurring at my place of employment. In late February, we got a new CEO. The previous guy had been the CEO of the company since the beginning and was there through the merger (when ownership also went from one guy owning to a 50/50 split between him and a new investor). Apparently, the new half owner wasn't liking the direction of things and wanted the change. They let him go and replaced him with the CEO of a "step-sister" company if you will. If that is not clear, Company A was originally owned by person X. Company B was owned by family Y. Family Y and Person X then bought the company I was with, Company C, merging it with Company A, under the name of Company A, and splitting ownership 50/50. The new CEO was, and still is, the original founder and CEO of company B before Family Y bought into it. So now he is CEO of both currently. Company B is considerably smaller and is actually a customer of Company A. I do not know if we will step away as CEO of company B. He had been serving on the board of Company A and I discovered was pretty much THE GUY when it came to getting the rest of the board in agreement to the company wide pay raises we got late last year.
Anyway, after they let the old CEO go, they recently let go the VP of HR, a VP of engineering, a senior VP of some kind, and two VPs on the finance/accounting side (who are staying on for a few months apparently). It caused a ripple effect as some other folks in HR are quitting in the near future as well but sticking around to transition (they have not been fired and have been told they are welcome to stay). Has had no real affect on me or my department and my boss is still around and is unlikely to be gone anytime as they promoted him from a VP position to COO last year. He and the new CEO and the ownership just felt things needed streamlined and that we were too top heavy. Not something I feel like we see a lot. In addition, much of the original leadership from Company A was from a different type of industry originally and their skills didn't necessarily translate to the actual industry we are in if you want to actually build a successful and profitable company in the long run. COO stopped by my office today to talk about it and told me some other things that the old guard types might not like but I actually totally agree with. We need to progress and get away from the way things used to be if we want to grow.