Time to get going
When I was in France in early October, I decided that the time had come for me to leave Fronde.
As usual (my blog title means Get Going), once I’d made my decision, I immediately put it into action. I resigned the first day back in the office, but we didn’t announce it so I could help with some important changes. Now that those changes are largely underway, and should produce great long term results next year.
A CEO who hangs around after he’s told his team he’s decided to leave them can be like a bad smell in the room - everybody feels slightly uncomfortable, but is too polite to say something! I put this to the chairman, along the lines that the team has a plan, they know what to do, and I’m only likely to get in their way. So (at my suggestion) I’m on “gardening leave” from here on until the end of my notice, although I’ll still sit on some Fronde subsidiary boards for a while.
I do want to say thank you to the Fronde team for their support and commitment – we’ve achieved some important changes. I’m honoured to have been part of the Fronde team, and I’m privileged to have worked with everyone there. I’m a Fronde shareholder, so I’ll still have a keen interest in Fronde’s future results - I’m expecting great things from them. I’m not leaving because of any doubts about the Fronde team’s talent and potential.
Update: I couldn’t say so at the time - the half year result wasn’t published, but it is now - that, although the result was a huge disappointment and lousy timing, it wasn’t the reason I resigned. It’s just that I have other things I need/want to do. But don’t expect any big project. This is a lifestyle change.
Trackback uri
December 3rd, 2007 at 7:47 pm
Hopefully not leaving our shores Jim (at least not until I get that glass of wine out of you!)
December 4th, 2007 at 12:24 am
Best of luck Jim, and good on you for making the tough call.
December 4th, 2007 at 2:35 pm
All the best Jim. I know that your future plans wil be interesting and I look forward to hearing about them over a beer soon.
December 4th, 2007 at 7:44 pm
Thanks guys
December 5th, 2007 at 9:36 am
So, the next project calls? You never were one to stand still, Jim. All the best in your next endeavour(s). Hopefully, our paths will still cross.
December 7th, 2007 at 7:23 am
G’d luck for the next big step, Jim.
December 7th, 2007 at 8:28 am
[…] industry, and corporate shindigs, there’s a load happening right now. Jim’s off from Fronde. Mr Smith heads to Fairfax Digital. Our Trade Me team is rapidly expanding - with […]
December 10th, 2007 at 7:39 am
[…] been an interesting week in Wellington’s IT community. Jim Donovan has left Fronde, ostensibly on the basis of a decision made while on holiday in France. I find a couple of […]
January 28th, 2008 at 11:35 pm
Good god man!! No wonder you’re leaving. Look at the result. The buck has to stop with you.
You couldn’t run bath, let alone a company!!!
I hope “things you want to do” doesn’t involve some other poor company.
January 29th, 2008 at 7:25 am
I absolutely understand your anger - I’m a shareholder myself. It happened on my watch and I’m responsible. We went for growth and we didn’t get it. But I think we reacted quickly when it became apparent, and the recovery plan we put in place is already delivering a significant improvement. However, that won’t make the first half figures any more acceptable.
January 30th, 2008 at 7:52 pm
I’m sympathetic with Angry Shareholder. For all of Jim’s posts regarding strategy, this is one that Jim clearly got wrong.
Interestingly, it is not only Jim that should be held accountable. Clearly the Fronde board is also culpable. It will be interesting to see whether some of the Fronde directors are also sent on gardening leave at the next shareholders meeting.