Technology-oriented firms often operate in fast-changing environments where rapid innovation cycles and aggressive competition increase the risk of organizational decline. When these firms begin to deteriorate, traditional turnaround strategies such as cost reductions or financial restructuring are often insufficient to restore long-term competitiveness. This creates a need to better understand the role of executive characteristics in shaping how firms navigate decline and pursue recovery. The purpose of this research is to examine how specific executive traits influence turnaround success in technology-intensive declining firms. The study integrates insights from leadership theory, strategic management, and organizational decline research to build a conceptual framework that links executive traits to mechanisms of strategic renewal, organizational stabilization, and capability transformation. This paper adopts a qualitative, theory-building approach based on an extensive review of prior research and analysis of illustrative cases involving major technology firms that have experienced performance decline. Through thematic synthesis, the study identifies key executive traits and strategic outcomes during turnaround efforts. The study concludes that executive traits play a central role in determining whether a technology-oriented declining firm can successfully recover. The study concludes that executive traits act as foundational determinants of turnaround success, enabling technology-oriented firms to pursue renewal trajectories that restore competitiveness and long-term viability.