PE-backed? See private equity CEO search →
Changing the chief executive of a venture-backed business usually means changing the founder’s role, and that is as much a board conversation as a search. HMN Capital runs CEO searches for venture-backed businesses across the UK and Europe, from founder transitions to the chief executive who takes the business to exit.
CEO searches run confidentially, and we work to bring the founder inside the process
The common routes, though no two boards take the same one.
Founder as CEO
Most venture-backed businesses are led by a founder through the early rounds.
Adding an operator
As the business scales, boards often add an operator alongside the founder: a COO, a president or a co-CEO.
The founder moves seat
Sometimes the founder moves to product, technology or the board, and a new chief executive takes over.
Pre-exit or IPO
A chief executive the next owner or the market will back, with experience of the process ahead.
The founder’s new role
Agreed before the search, so candidates know what they are joining and the founder knows what they are keeping.
The board’s mandate
What the next chief executive is accountable for, and to whom, written down.
Co-CEO structures
When two leaders share the top, the split has to be explicit. The co-CEO structure
The team beneath
A new chief executive often reshapes the leadership team. We run those searches as part of the same relationship. COO search
Confidential by default
CEO searches often begin before the business can announce anything. Every approach is discreet.
The founder inside the process
Searches go better when the founder is part of them. Where that is not possible yet, we work with the board on how to get there.
Packages and equity
We benchmark salary, bonus and equity for the chief executive seat against live market data, including how it sits alongside the founder’s holding.
Board appointments
Independent Chairs and non-executive directors who can support a first-time chief executive or a founder moving seat.
Headline mandate
CFO, CRO, CPO and COO for one VC-backed business
Four C-suite appointments for the same venture-backed company as it scaled, plus the people and commercial hires beneath them.
Non-Executive Director
Growth-equity-backed SaaS, UK. An independent NED to chair the audit and risk committee and lend financial rigour ahead of the next funding round and enhanced investor diligence.
Audit and risk chair placed
Non-Executive Chair
PE-backed consumer brand, Italy. A founder-led business, freshly institutionalised, needed an independent Chair to professionalise the board and mentor a first-time CEO.
Independent Chair appointed
Further reading: Two names on the door: the co-CEO structure
Should we add a COO or replace the CEO?
Often that is the first question. A COO or co-CEO structure keeps the founder’s strengths in the business; a new chief executive changes the direction. We help the board work it through before a search starts.
Can you run a CEO search while the founder is still in the seat?
Yes. These searches run confidentially, and we advise on how and when to bring the founder into the process.
Do you advise on CEO equity?
Yes. We benchmark salary, bonus and equity for the seat against live market data.
