Carefully consider your reputation and that of the company. As an executive operating the business and a board member, you are in a sensitive position as your moves may telegraph unintended messages to owners/shareholders. Positioning your exit is critically important, and an executive typically has three options: personal, philosophical/strategic differences, or a better opportunity.
The best exit strategy is to thoughtfully engineer an exit that positions you for a move that expands your scope and responsibilities. In my career I have used four tests to determine the potential for a career move:
- impact I can have in the position
- innovative potential of the products/molecules
- societal good that can be generated by successfully advancing the new company’s agenda
- undervalued assets of the new organization and the potential for value recognition in the next one-to-two years.
RICH DALY, COO of BeyondSpring, has more than 25 years of biopharmaceutical industry leadership experience, including roles as chairman and CEO.