Chances are you know about LivingSocial, a company that offers discount vouchers for different businesses and events. The CEO of that company and one of its founders, Tim O'Shaughnessy, announced in a message to the rest of his business that he will be leaving.
This message, posted in full on Business Insider, starts out with a neutral tone, then proceeds into a reflective and courteous statement on O'Shaughnessy's time with LivingSocial. But one of the most interesting points comes in the second paragraph, in which he describes his reasoning behind the timing of his exit. Even though this information is coming out now, the brunt of the search is still yet to come and will supposedly be conducted over the course of the next six months.
"The beginning of a new year is a useful time for reflection on where we've come from, where we are now, and where we need to go as an organization," he wrote. "Like you, I have given my all to the mission of this company. And I remain 100% convinced the ingredients for success are here."
According to the Wall Street Journal, LivingSocial has not been performing at its peak in recent months, ranking much lower than it previously had.
This question of when it's best to announce the departure of a company leader might not occur to a corporation conducting its own search, especially when the person leaving has every right to do it whenever he or she feels so. But a management recruitment service might help your company judge this in a way that they might not have before.
