Yahoo has been hemorrhaging high-level employees since the Microsoft takeover bid fell through (handily, technology blog TechCrunch has been keeping track ). Clearly there’s a great deal of dissatisfaction in the company.
Two of the most recent departures were the founders of companies Yahoo purchased (Flickr and Del.icio.us). When this happens, one has to assume that the purchasing company was stifling innovation by not providing effective leadership. Leadership contexts can change depending on the size of the team, the team’s location, and the personalities on the team.
Sensitivity to when people will need to act in different roles can help keep employees happy and make them more productive.

Speaking of Pascal Levensohn, he’s also written a very good guide for founders of startups who have new responsibilities and boards to look after. The guide is called “A Simple Guide to the Basic Responsibilities of VC-Backed Company Directors.”
During the early stages of a company’s founding, it’s especially important for leaders to get everyone on the same page so that all stakeholders share the same vision.