Interim CEOs or Managing Directors
The requirement
The need for an interim chief executive or interim managing director is more common than many people realise. For each organisation it will be a rare occurance and the owners will want their organisation to be stabilised as quickly as possible. Using an experienced chief executive or managing director who is already used to the interim role is key. They know what they have to do and what they should not do.
There are two situations where interims are appropriate at this senior level.
Crisis Management
The managing director of a poorly performing family business suddenly resigns and leaves to set up a competitive operation. The Chairman realises that the incumbent management team are too inexperienced to take on the vacant role and is unsure of the best course of action to take.
An interim chief executive or interim managing director would be able to step in quickly, using his experience of similar situations to protect the company from any competitive threat and to effect a turnaround in the company's fortunes. He could also mentor one of the existing managers and help to groom them to take over his role once the interim assignment has come to an end.
Sudden Departure
Occasionally a company may find itself having to deal with the resignation of a chief executive or managing director. Allaying nervousness amongst shareholders and the City and the urgent need to fill the hole left in the management structure of the company means swift action is crucial.
An interim chief executive or interim managing director can move into the vacant role quickly and smoothly. By maintaining its momentum, the company then has the time it needs to find a suitable permanent replacement for the position and indeed, the interim executive will often help to review and recruit his successor.
For interim chief executives or interim managing directors call Nick Diprose directly to discuss your situation in complete confidence.
