Preserve the reputation of the fired executive. The failure was very likely a team effort, and it’s best to portray it that way. You don’t make yourself look good by trashing someone who worked for you. A mature approach to this issue will help keep the board confident in your ability to be CEO. It is also the fair and decent thing to dob Step 3: Preparing for the Conversation. After you know what went wrong and have informed the board, you should tell the executive as quickly as possible. Three keys to getting it right: