Why 50% of CEO Transitions Fail, Ownership Change Pivots, & Leadership Succession with Steve Woodworth

“I have seen 150 CEO transitions … about half of them have gone badly.” // “Legacy is in the people and in the values and culture of the organization. The strategy keeps changing.” // Steve Woodworth shares his experience with leadership transitions in both the nonprofit and business sectors. He discusses the challenges and insights that led him to write Lost in Transition, a book that addresses common pitfalls in leadership transitions. Steve’s learning and personal experience transitioning ownership of his own business, Masterworks, illustrate the importance of humility, regular communication, and leadership alignment. To transition well, leaders must focus on the mission and culture and maintain a long-term ownership and governance outlook. These factors enable successful transitions and enduring mission fulfillment. Steve shares his personal journey of letting go of his company and pivoting in transitioning ownership from giving it away to selling to Gloo. Steve candidly shares lessons learned, highlighting the significance of trusting God throughout the process.