A young aspiring CEO was hired by a large company to replace the out going CEO. As he was moving into his new digs the guy he was replacing happened by to pick up a few things he forgot.
He told the new CEO, “In the top drawer of your desk are three letters I wrote for the new CEO. They are numbered 1,2 and 3. Don’t open them now. You will know when to open them.”
The first 6 months running the company went well -- but then things started to take a turn. After another couple months the new CEO knew it was time to open the first letter. It said: “Blame the previous guy.” He followed these words of wisdom and things went well again. The stock went up and sales were good.
Again things began to take a turn for the worse and after holding out as long as he thought he could the new CEO opened the second letter. It said : “Hold a press conference and tell them you are reorganizing to make the company lean and aggressive.”
After the press conference things went well. The stock shot up again. Sales were strong and things were looking good.
But alas it couldn’t last.
As the company went further and further down hill, the CEO opened the last letter.
It said: “Prepare three new envelopes.”
I think it's time for Gary Pruitt to prepare three envelopes.