The Dirty Secrets of Executive Departures

Over the next few weeks, we're bringing you some Heretics 101 content - important refreshers on taboo topics that are core to navigating the CPO seat.For today’s episode, we're revisiting an early conversation about how to fire C-suite executives that we had with CJ Gustafson from the Run the Numbers podcast. If you're in this business long enough, you're either going to have to fire an executive, or you're going to be the one getting fired. That's just reality. What started as a simple question turned into one of our most candid discussions about severance packages, golden parachutes, and layering. *Email us your questions or topics for Kelli & Nolan: [email protected] coaching and advising inquire at https://kellidragovich.com/HR Heretics is a podcast from Turpentine.Support HR Heretics Sponsors:Planful empowers teams just like yours to unlock the secrets of successful workforce planning. Use data-driven insights to develop accurate forecasts, close hiring gaps, and adjust talent acquisition plans collaboratively based on costs today and into the future. ✍️ Go to https://planful.com/heretics to see how you can transform your HR strategy.Metaview is the AI assistant for interviewing. Metaview completely removes the need for recruiters and hiring managers to take notes during interviews—because their AI is designed to take world-class interview notes for you. Team builders at companies like Brex, Hellofresh, and Quora say Metaview has changed the game—see the magic for yourself: https://www.metaview.ai/hereticsKEEP UP WITH CJ, NOLAN + KELLI ON LINKEDINCJ: https://www.linkedin.com/in/cj-gustafson-13140948Nolan: https://www.linkedin.com/in/nolan-church/Kelli: https://www.linkedin.com/in/kellidragovich/—TIMESTAMPS:(00:00) Intro(00:52) The First Steps: When to Exit a C-Suite Executive(02:46) Decision vs. Discussion: Framing the Conversation(05:29) The Fourth Scenario: Growth Outpacing Talent(08:04) Compensation: The Spicy Details(10:36) Pre-Negotiated Severance: Red Flag or Smart Move?(14:50) Sponsors: Planful | Metaview(17:49) Golden Parachutes: The Biggest Payouts(20:47) Equity Acceleration and Exercise Windows(22:35) Rest and Vest: The Perverse Incentive Problem(24:12) Garden Leave Explained(24:51) VCs and CEO Firings: The Reputation Game(27:00) Advice for the Departing Executive(30:13) Controlling the Narrative(31:43) Wrap This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit hrheretics.substack.com