I’m a veteran of hundreds of private equity panels. And I’ve edited hundreds of blog posts authored by industry insiders. Both are flush with unflattering anecdotes, but very rarely is the subject identified. Instead, it’s a lot of: “There was this guy…” or “We once invested in a company…”
But there are exceptions to every rule, as evidenced by a recently email newsletter from executive recruiter Pinnacle Group (and sent to me by multiple readers). The author, Pinnacle managing director Joe Logan, writes about the increased value — and declining examples — of trust in business relationships. And then comes this:
So, imagine my surprise when I learned that Thomas Vo, a candidate who accepted an offer from one of our clients in February, announced this week that he was reneging on his acceptance. According to Thomas, although he had signed an agreement accepting our client’s offer and agreed to a start date for this summer, he was contacted “out of the blue” by the HR department at a PE firm he declined to name (not surprising) after accepting an offer with our client and, although he tells us “he wasn’t looking”, he continued on interviews with this unnamed PE firm and has now accepted an offer with them – leaving our client in the lurch, months after they thought they had concluded their search.
To be clear, I have no idea who Thomas Vo is. I’ve done some Google and LinkedIn searching, but so far have come up empty. I asked Logan where Vo was going, but apparently the renegar won’t tell Pinnacle his next place of employment. If you’re out there Thomas, drop a line and tell us your side of the situation.
Until then, here is Logan’s piece in full.