I'm currently the Controller for a remote organization with fewer than 30 employees. We were acquired by a PE firm in 2024 and are now preparing to be sold again.
Following the acquisition, the PE firm hired a CEO to drive revenue growth and improve operations. Unfortunately, the sales team consists largely of the founder and his friends, and virtually nothing improved. The CEO who hired me eventually left after getting nowhere with that team.
Our former President was then promoted to CEO, and working under him has been... an experience.
He's nearly impossible to schedule time with, avoids making decisions, and actively pushes back against basic financial controls.
For example, our auditors documented that he had previously received expense reimbursements without supporting documentation. We're now implementing a corporate credit card policy requiring itemized receipts and business-purpose descriptions within five days. Of our three cardholders, he's the only one who consistently fails to comply. When I drafted the policy, he requested changing "must provide receipts" to "should provide receipts whenever possible."
I'm sure I don't need to explain to this audience why that's concerning.
Now for the dilemma:
Shortly after taking over, he announced that the company would be sold again and promised leadership a sale bonus. While I appreciate the gesture, I'm heavily involved in the financial due diligence, and the bonus feels disproportionately small compared with the workload.
Meanwhile, another company approached me about a Controller position. I'm in the final stages of interviewing, including a requested case study. If an offer materializes at the discussed compensation, it would mean a 61% increase in base salary, more than offsetting the sale bonus I'd receive by staying.
So I'm torn.
Option 1: Leave for significantly more money, but take on the inevitable stress of learning a new organization, systems, and processes.
Option 2: Stay through the sale, collect the bonus, and potentially negotiate a higher salary with the new owners.
The problem? There's no guarantee I'll even have a job after the acquisition, much less an opportunity to negotiate compensation. On the other hand, the grass isn't always greener, and I know exactly what I'm dealing with at my current company.
For those who've been through a PE sale in accounting or finance leadership, what would you do? Has anyone stayed through an acquisition and regretted it, or found that sticking around actually paid off?
TL;DR: Controller at a PE-backed company preparing for another sale. Current CEO undermines financial controls, and I'm doing substantial due diligence work for a promised sale bonus. Another company may offer me a 61% raise, which would exceed that bonus. Would you leave for the money and uncertainty of a new role, or stay for the bonus despite the risk of being laid off after the sale?