Authored by Michael Ryall and Siri Terjesen via The Epoch Times,
Two weeks ago, Project Veritas generated global headlines by exposing a Pfizer employee who claimed that the company was allegedly exploring plans to mutate the coronavirus themselves through “directed evolution” and profit from it. This week, Veritas is again on the front pages, this time for a very public, board-level fracas resulting in the unceremonious departure of Veritas’s dynamic founder CEO James O’Keefe.
Watching this drama play out, one question at the top of everyone’s mind is whether Veritas can survive without O’Keefe.
As researchers in corporate governance and strategy, we have analyzed large datasets on founder CEO exits as well as written individual case studies on the subject. In our judgment, O’Keefe’s departure will effectively end Project Veritas.
Conversely, there are countless examples of non-founder CEOs whose departures did little to change the trajectory of their organizations. Among non-profit examples, Young Americans for Liberty (YAL)—founded by Jeff Frazee in December 2008— weathered the storm when then-CEO Cliff Maloney was placed on leave and then terminated in January 2021. A key aspect of YAL’s survival is founder Frazee’s ongoing work as board chair and treasurer of both YAL and the YAL Foundation.
Research and anecdotal evidence suggest no clear path forward for Project Veritas without its founder CEO. The Project Veritas brand, its ability to navigate the treacherous waters of modern journalism, and its ability to acquire the resources needed to continue all walked out the door with James O’Keefe.