From 803-096 Zipcar: Refining the Business Model:

“On the advice of a former professor, Chase began to look for someone who could bring that expertise and credibility to the team. Following up on a strong referral from a prospective board member, Chase and her advisors interviewed a man whose experience and age they hoped would bring more industry credibility. He was named president, Chase became CEO, and Danielson was named vice president of environmental affairs and strategy.

The new president would draw no salary until the financing came through, then he would receive a bonus roughly equivalent to back pay. The honeymoon period was brief. Chase recalled the many problems:
Our mistake: hiring a big-company guy for a start-up. He spent a lot of money in lunches and parking, created huge lists and detailed tasks and procedures that were 25% out of date by the time they hit my desk and 50% out of date by the following day. He was used to working at a much later-stage company where the goal was to put procedures in place and follow them strictly.

Chase decided to act swiftly. She called on all of her advisors and legal counsel then took the necessary steps to sever the relationship in July 2000. She noted, “Letting him go was absolutely one of the hardest things I have ever had to do in my life. But he was truly the wrong guy for the job, and we had to cut our losses as quickly as possible.”

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