Interim CEO search
When a chief executive leaves suddenly or a turnaround cannot wait, an Interim CEO gives the board an experienced leader in the seat within days. We put forward available executives who have run companies of your size and can take decisions from their first week.
The Interim CEO role and its market
An Interim CEO runs the company for a defined period, typically after an unplanned departure, during a turnaround, or while the board carries out a permanent CEO search. The board engages them directly, and they report to the chair or lead independent director. In the first weeks they reassure employees, customers, lenders and investors, take over pending decisions, and agree with the board what the mandate covers. For some boards that means keeping the business steady and preparing a clean handover to a permanent CEO. Others want the interim to act: cut costs, fix a broken plan, replace leaders or prepare for a sale. PE sponsors often place an interim CEO when a portfolio company falls behind its value creation plan. Founder-led and family-owned companies may need one when the founder steps back unexpectedly.
Experienced interim chief executives are a small group, and the best are often between assignments for only short periods. Searches go wrong when the board waits too long to call, or when it asks a sitting director or internal executive to cover without thinking about the conflicts this creates for the permanent search. Another problem is an unclear mandate. An interim told to hold steady who starts restructuring, or one told to act who waits for the permanent hire, both leave the board with a mess. We help the board write a short mandate, decide whether the interim may be a candidate for the permanent role, and set the term before anyone is approached.
What sets a strong Interim CEO apart
Each of these can be tested in interview or through references before an offer.
- Available now
- They can start within days, with no conflicting board seats, notice period or advisory commitments. Confirm this in writing early.
- Prior interim assignments
- They have stepped into a company at short notice before and can describe their first two weeks in detail. Board chairs from those assignments confirm it.
- Fast, sound decisions
- References describe decisions taken with incomplete information that held up later, along with how they kept the board informed.
- Clean exit record
- Past assignments ended with an orderly handover, and permanent successors speak well of what they inherited.
How we assess Interim CEO candidates
Speed and availability shape this search. We confirm each candidate's start date, the term they can commit to and any conflicts before the board sees a name, so every shortlisted executive could begin almost at once. The chair and one or two directors hold structured interviews over a short period, often within a few days. Each finalist talks through your situation as it stands and says what they would do in the first thirty days. References come from board chairs and sponsors on recent interim assignments, including people the candidate did not name, and focus on judgment under pressure.
How Interim CEO engagements are paid
Interim CEOs are usually paid a day rate or monthly rate agreed up front for a defined term, with notice terms that let either side end the engagement when a permanent CEO starts. Some boards add a completion bonus tied to the mandate, such as a successful sale, refinancing or handover, and PE-backed companies sometimes grant a small equity award. The rate depends on company size, complexity, the state of the business and the time commitment. The interim may be engaged as an employee or through their own company, which affects benefits and indemnification. Directors and officers insurance coverage must be confirmed before they start. The board agrees the rate, term and any incentive before the search opens.
Other board and interim leadership searches
Hiring an Interim CEO: common questions
How quickly can an Interim CEO start?
We present only executives who can begin quickly, often within days of the board's decision. The board can usually interview and engage within a short period if the chair is available to move. Confirming D&O insurance and engagement terms is the main step before day one.
Can the interim become the permanent CEO?
Sometimes, and the board should decide this at the start. If the interim may be a candidate, the permanent search must treat them fairly against external candidates. Many boards prefer an interim who has agreed not to compete, so they can focus on the mandate.
How long does the overall process take?
Placing an interim usually takes days to a few weeks, depending on the board's speed and the specific profile. The term itself commonly runs several months, often until a permanent CEO is in place. A permanent CEO search, run in parallel, typically takes a few months and depends on the role, market and confidentiality.
Should we use a board member as interim instead?
A director stepping in knows the company, which helps, and it can work for short gaps. It can affect their independence and committee roles and may complicate the permanent search. An outside interim avoids those issues and often brings more operating experience in crisis situations.
Discuss your Interim CEO search
Send the title, the reporting line, the ownership of the business and when you need the person in place. We will reply to set up a call about the brief.
Prefer email? Write to info@executivesearchfirms.org.
Monday to Friday, 8am to 8pm.