NEW CEO

A man who had just been hired as the new CEO of a large corporation met with the outgoing CEO, who gave him three numbered envelopes. “Open these if you run up against a problem you can’t solve,” he said.

Six months later, sales took a downturn and the new CEO was really catching a lot of heat. Uncertain about how to proceed, he remembered the envelopes. He went to his drawer and took out the first envelope.

The paper inside simply said, “Blame your predecessor.”

The new CEO called a press conference and tactfully laid the blame at the feet of the previous CEO. Satisfied with his comments, the press - and Wall Street - responded positively, sales began to pick up and the problem was soon behind him.

About a year later, the company was again experiencing a slight dip in sales, combined with serious product problems. Having learned from his previous experience, the CEO quickly opened the second envelope. The message read, “Reorganize.” He did, and the company quickly rebounded.

After several consecutive profitable quarters, the company once again fell on difficult times. The CEO headed straight for the third envelope.

The message said, “Prepare three envelopes.”