Interim CFOs and finance executives get hired when private equity boards push for specialized expertise to accelerate projects and drive value creation. The demand often comes from investor pressure, not the company itself. These roles supplement permanent leadership rather than replace it.
When you think about, you know, most people think, oh, you know what, they need an interim role, we need an interim CFO, the CFO just left, you would go in, the company would identify that as a need or interim controller or VP of FP&A or something. But how many projects are you seeing or are you seeing a growth where it's more about, you know, a private equity board in particular? Because I know you mentioned how prevalent private equity is using interim management. Is it the board coming over and saying, hey, wait a second, we see something the company is not seeing that we want to be doing here? Or is it generally the company saying, no, you know what, we need somebody body in this role, or a good mix?
I think it's a mix, but a lot of times boards who are under pressure from shareholders, whether it's a private-backed company or public company, will recognize that it's not about changing out C-suite leadership or other key leadership inside the business. It's about supplementing for a period of time, supplementing with specific expertise that can push along projects or various work streams to ultimately drive value creation.
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