Nick Romito to take complete control
What happens when two successful founders merge their startups? One founder typically gets pushed out…
VTS, the leasing and asset management platform merged with their competitor Hightower in 2016. Hightower’s Brandon Weber became the Chief Product Officer of VTS, while Nick Romito became the CEO of the newly formed entity (kept the VTS name).
Too many cooks in the kitchen: At the time, many surmised that this arrangement wouldn’t last. It’s the equivalent of a Coach and General Manager being hired separately — never works!
Give the Founder the Mic: Nick Romito told TRD: “We’ll have a lifelong relationship… And, candidly, he’s putting a lot of responsibility on my shoulders. Our net worth is tied up in this company.”