Introduction – Mike Lorelli
Most of my career has been with PepsiCo where I was blessed to have been given the fortune to be a Division President twice. After which, I’ve been in the private equity space for 17 years. The dance card today is very interesting, colorful and rewarding. I’m an Operating Partner with Falconhead Capital, a small mid-market private equity firm in New York. I sit on four boards and I’ve got my coaching practice which goes under the heading of Faster Landings. At Faster Landings, we do two things – we coach senior executives in transition, and we also coach senior executives who are trying to land board seats.
When a company sells to a PE firm and the owner and/or C-suite is asked to stay on, how does the landscape change for these leaders?
The landscape changes for virtually everybody in the company. It begins with the timeline, which significantly shortens. Tomorrow now means this afternoon. Next year now means next week. Keep in mind, private equity executives are driven by three measures: internal rate of return, cash-on-cash return and hold period where less is more. Two of these measures are essentially time driven, hence the incredible immediacy to everything.