I don't have any personal experience, but here's an article that's been posted here before:<p><i>The Pmarca Guide to Startups, part 9: How to hire a professional CEO</i><p><a href="http://blog.pmarca.com/2007/08/the-pmarca-gu-1.html" rel="nofollow">http://blog.pmarca.com/2007/08/the-pmarca-gu-1.html</a>
Take your time.<p>Understand the new CEO's motivations.<p>Create a new board seat for the CEO: <a href="http://www.venturehacks.com/articles/ceo-board-seat" rel="nofollow">http://www.venturehacks.com/articles/ceo-board-seat</a><p><i>Bring him on board as an Advisor or Director first and see how that works out.</i>
The Jim Cramer book (of all books) <i>Confessions of a Street Addict</i> chronicles his hiring and firing of a few clueless/alcoholic CEOs when he started his web venture.