I'm a CEO, and I'm wondering how to structure a deal for my first other CEO? The purpose I need another CEO is because I've got my hands full with my own line of products, but I'm an idea guy and have a good idea for another line of products. I'm going for the Sir Richard Branson (of Virgin) look with owning lots of similarly named companies, all run by other CEO's - or "managers". Basically, I'd rather opt for CEO's because these companies are rather technologically advanced and will need some people to run them with lots of power.
What do I need to retain, if the person is overseas and a stranger, but well trusted on LinkedIn just the same. Obviously I don't want to rule by abdication, but get involved with the business.
Here's my ideas:
Any other ideas??
I'm not sure you know what "CEO" means. Its "Chief Executive Officer". There could be only one CEO in a company (although in rare occasions there are "co-CEOs"). What you talk about is a "division manager" of some kind that will report to you but manage a separate line or division of your business.
Otherwise, you misunderstand what a "separate company" means. If you start up a subsidiary in a different country - you cannot require it to use a bank account owned by someone else (you), in a different country (yours) and ran by someone else's CPA. It just doesn't work like that. If you start a subsidiary - you run the board of directors, hire the CEO - and let that CEO open a bank account, hire a CPA and run the business. Because that is her job.
Patterning after a visionary like Branson is not a strategy...it sound like you are playing Monopoly or Acquire. While business and strategy are "game" founded, I suggest developing your own strategy on how to grow based on the particular needs of each business.