Step 2: Informing the Board. You should have three goals with the board: Get their support and understanding for the dif- ficult task that you will execute. You should start by making sure that they understand the root cause and your plan to remedy the situation. This will give them confidence in your ability to hire and manage outside executives in the future. Get their input and approval for the separation package. This will be critical for the next step. Executive packages are larger than regular severance packages and rightly so. It takes about ten times longer for an executive to find anew job than it does for an individual contributor.
