A first-time CEO’s first big decision crashed the company and almost got him fired — but he bounced back to buy his biggest rival and grow his company to $1 billion (ANGI)


Home Advisor Chris Terrill

In October, 2017, Chris Terrill – CEO of the newly formed public company ANGI Homeservices – stood in front of his employees convinced that a third of them hated him.
He had spent years vilifying and weakening his biggest rival Angie’s List in TV ads until it was so weak, he could swoop in and buy it.
It was a bittersweet moment for Terrill because his first big decision as CEO crashed the company and almost got him fired.
His career shows that if you make decisions based on data, rather than on ego or fear, you can overcome almost anything.

Chris Terrill – CEO of the newly-formed public company ANGI Homeservices – stood in front of his employees on a day in the October of 2017 in a town hall meeting, convinced that a third of them hated his guts.

“Look, you have no reason to trust me. I should have come in here in a Darth Vader suit, because I’m sure that’s how you feel about me,” he said.

It was a bittersweet triumph for Terrill, who until recently had been CEO of home improvement marketplace HomeAdvisor. Terrill himself had joined four years prior, taking his first-ever CEO role at a time when the company was still known as ServiceMagic.

The town hall meeting was the first time Terrill had faced all of his employees after HomeAdvisor had purchased its biggest competitor, Angie’s List. The acquisition came about after years of HomeAdvisor TV ads that vilified Angie’s List, helping to weaken it to the point where Terrill could swoop in and buy it.

And now he was trying to convince his new employees to trust and believe in him. “It was weird,” he said of that first meeting. “I assume they had pictures of me to throw darts at me.”

The acquisition itself was unusual, too. It was an all-equity deal valued at $500 million in which the smaller company, HomeAdvisor, bought the bigger, publicly-traded Angie’s List — a deal that placed Terrill as CEO of the combined entity, now dubbed ANGI Homeservices, with his one-time rival, Angie’s List founder and namesake Angie Hicks, now working under him as chief customer officer.

The outcome of that deal: Terrill instantly became the CEO of a publicly-traded company. And suddenly, Terrill was managing a team that was about a third larger than it was before the acquisition.

All of this was a far cry from where Terill found himself in 2012, shortly after he joined the company, when he made a strategy decision that immediately crashed the company’s revenues…and had him on the hot seat, in fear of being fired, for almost a year.

Terrill’s career story shows that if you truly do your homework, make decisions based on data rather than on ego or fear, and stand by your data-driven decision, you can overcome almost anything.

From marketing guy to first-time CEO

Terrill had made a name for himself in the marketing world, stemming from his days at IAC’s Match.com followed by a short stint at Blockbuster and Nutrisystem. He was …read more

Source:: Business Insider

      

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