Why I’m transitioning to Chairman
I am writing this post to announce that I will be stepping down as CEO of Taxfix to become Chairman. I also want to tell you that we have found a new CEO whom I can’t wait to introduce to you. I want to take this opportunity to explain why, why now, and what this means.
It is as hard and bittersweet as a parent watching their child move out. I could not be more proud. I look back with no regrets. I love what this company and the team have become. But I also know that becoming more independent from me is the right thing for Taxfix in its next chapter of growth.
Five and a half years ago, when we started the company, I would have never imagined that Taxfix would reach this level of success. We have grown every year 7x to 3x, we are live in three countries, and we have established a world-class team of over 350 people. We have generated hundreds of millions of euros in tax refunds for our customers. Our board includes some of the best investors in the world with Index Ventures, Valar Ventures, Creandum, and Redalpine.
When a company achieves as much as Taxfix already has, it becomes clear that there is a long and bright future ahead. Taxfix will be around for decades to come. We are on track to become a unicorn in the next few years and will possibly even go public at some point.
So, at the beginning of the year, I started asking myself: Am I the right person for the next phase of growth at our company? Will I truly enjoy the next stage of managing a larger company?
Why I chose to step down as CEO of Taxfix
Like all big decisions I make, I thought this through for many months and reflected on it during peaceful walks and sleepless nights. This was harder than any big decision I had made before. I know that I am capable of many things. I also know that only a few of those give me real joy and a sense of fulfilment.
What I realised beyond doubt was that this over-romanticised idea of only a founder being able to run a business, is simply not true. This kind of thinking is not healthy for the founder nor for the business. It puts undue pressure on the founder, and the limitations of the founding CEO often prevent the company from progressing to the next level of growth. In fact, many founders do not enjoy playing the role of a late-stage CEO and over 70% of companies that go public are no longer led by their original founders.
I knew that I would be able to do the job. I was always able to push myself to the next level. I learned everything that I needed to learn. I put the concerns of the business above my own priorities or personal and family interests — no matter what.
However, my passion for solving complex problems in product and marketing had to give way to management, people topics, and fundraising. And I was okay with that. I underestimated though how much this would start to weigh on me, my stress levels, and the fun I had doing this job in a larger organisation. I even caught myself subconsciously considering business decisions that would align more with my personal preferences than with what was right for the company.
That’s when I knew that the best thing I could do for the company, the team, our shareholders (including all employee stock option holders) and our customers, was to change something.
So, I have decided that I am no longer the best possible person for the CEO job at Taxfix. I believe the potential of the next five to ten years at Taxfix requires a change of leadership, and I know I can provide more value to the business as a Chairman to help on strategic topics going forward.
Most of my confidence came from our experience of this setup at Smallpdf (our first company). Back in 2019, we made a similar change very successfully and were incredibly lucky to find the current Smallpdf CEO, Dennis. As the Chairman and CEO team, Dennis and I talk several times a week, allowing me to play an active role as Chairman, while he runs the business independently. With this setup, Smallpdf has been able to multiply its revenue and experience the strongest growth since the foundation of the company.
How to find the perfect new CEO
I knew that it would be hard to find the perfect new CEO. I understood that it could take more than 12 months to find someone. It was clear that a transition would only be possible if we were to find someone who was more than just good. We were looking for someone truly amazing — not just because of the skills they could bring, but because they fit seamlessly into the great culture we built here at Taxfix.
From February onwards, Lino and I dedicated as much time as we could to finding the best possible person. Our board members were heavily involved in interviewing candidates, calibrating the role, and convincing top talent to join the process. With the help of their networks and connections, alongside the support of a great agency, we soon were having weekly conversations with some of the best tech executives in Europe.
But there was one candidate which we were incredibly enthusiastic about from the very first moment. From the first call with Martin, we clicked instantly. During numerous conversations and walks through the park, both Lino and I were unbelievably impressed with the tremendous experience he brought to the table, the unique cultural match to both us and the company, and his strong conviction to only join a company with a clear vision to have a positive impact on the world.
Martin shares our values and is truly excited about the future of the company. Once we met Martin, we knew we had met more than just a match — we had found someone who exceeded all our expectations.
In the past, he has built and scaled some very successful technology companies of different sizes. As Co-CEO of Skrill (Moneybookers) — an early P2P and digital payments pioneer — he built one of the fastest-growing fintech unicorns at the time. Later as VP and Managing Director Central Europe of Facebook, he grew the company’s business across Facebook, Instagram, and WhatsApp as well as its startup ecosystem across many European countries — and counts some of the best people in technology globally among his former colleagues and friends.
After many discussions, presentations from both sides, and conversations about the future, we had gained all the certainty we needed. We were thrilled to have Martin sign on as the new CEO of Taxfix.
What does all of this mean?
For the company, this will be a change. My co-founder Lino (CPO) and Daniel (COO) will remain Managing Directors and will play a more important role than ever going forward. I will switch my role to Chairman and focus on providing a smooth onboarding and seamless handover. Martin will take over as CEO from the 20th of September 2021.
I will keep a very active role in the business. In my new position as Chairman, I will focus on helping with strategic topics, fundraising, and of course, board meetings. I will be in the office regularly, join strategy off-sites, and take part in company events. I will have weekly calls and in-person meetings with Martin and the C-Level to support in any way I can. I am not leaving — I will just have a very different role.
What will this mean for me?
I’ve done the best work of my life at Taxfix. I could not be more proud to have built something that will outlast me and to have grown an organisation that will function successfully without my operational involvement.
I will enjoy more time for myself now. I am not going to think about any next steps within the next six months. After ten years of building three startups, I want to experience what it feels like to not have a full calendar 11 hours a day.
Even more than that, my wife and I are currently awaiting the arrival of a new member to our family, and I am hugely grateful to be able to experience this special time with my wife and child without the simultaneous pressure of running a company as a CEO.
I am very much looking forward to being a part of Taxfix’s journey from a back seat and working closely with Martin. I look forward to spending more time with Lino, not just as business partners but as the great friends we have been for many years. I look forward to spending more time with my parents in Switzerland and doing some of the many things I was never able to do in the past ten years as CEO.
I am beyond grateful for the past five and half years at Taxfix as a CEO — I was able to grow more than I could have ever imagined. We were able to build something long-lasting, and I spent so much time in the company of so many amazing people.
I want to thank all team members, partners, and customers for the most incredible time as CEO of Taxfix. Specifically, I want to express my gratitude to Lino, the C-Level, and our amazing advisory board for their understanding and support in making this transition happen and finding the best solution with Martin onboard.
We have a fantastic journey ahead of us and I am excited about my new role in this new chapter!
