So many founders go through a process where they finally realize a VP isn’t working out, but they still want to keep them while they find their replacement.
They want to do a Stealth Search.
All I can tell you is this is really, really hard, and rarely done right.
Having said that, it’s interesting Starbucks recently did it for its new CEO search. And how they pulled it off is telling:
Starbucks pulled off a Stealth Search for its new CEO
Find that rarely works well in practice, but, well, here’s an example of when it did pic.twitter.com/gXCYBf8R4m
— Jason ✨👾SaaStr.AI Sept 10-12✨ Lemkin (@jasonlk) August 14, 2024
How they did it:
- They quickly identified their #1 candidate (there, the CEO of Chipotle)
- The Board went and recruited him personally, in person, without recruiters
- It was fast, deliberate and intentional. With a clear target.
Most founders can’t quite work this way. They don’t actually have a new VP of Sales in mind. They need help to find candidates, and it’s going to take months and months. So they sort of half-arse a Stealth Search. They sort of talk to folks, but don’t go all in. They do a few interviews, but not enough. And nothing quite gets done. And half the time … the existing VP finds out, and it creates lots of friction.
I don’t have the perfect answer here but a few thoughts:
- If the VP truly isn’t performing, just move on without them, and start the search. The existing team will either step up, or in many cases, do just as well without them.
- You gotta back your VPs. But — you also need to be constantly meeting more of them in general. That VP may quit. Burn out. Get a great offer at OpenAi. You don’t know. I know it’s hard, but ideally, you already at least know 2-3 great other VPs for every role.
- Consider the “SVP” or “CRO”/“CMO” search strategy. Top them, don’t replace them. Do this 98%+ of the time if the VP is performing, just hitting their limits. You keep the existing VP, but formally go out to find their boss. This can create friction, and the current VP may leave anyway, or at least threaten to. But if you might want to keep the VP, it’s often less friction than a stealth search gone awry.
If nothing else, bear in mind the vast majority of founders I’ve worked with and invested in don’t do Stealth Searches well. They don’t commit as much time as a traditional search, and they don’t see as many candidates.
If you are a heat-seeking missile, and can identify 1-2 candidates you think you can get — they just go do it. Just go do it like Starbucks.
And always be passively networking with great VPs. Heck, come to SaaStr Annual and meet CROs and CMOs and CCOs there at our events for them.
But if you aren’t a heat-seeking missile in recruiting, and don’t already have some good candidates in mind … the Stealth Search probably won’t work well.
Whatever you do, don’t convince yourself you’re taking action by claiming you are doing a Stealth Search. If you aren’t all-in, 100%, working even harder at it than an open one. Most aren’t.
