Private equity and public boards hire interim CFOs and finance leaders to fill expertise gaps on specific projects, not to replace existing executives. Interim talent accelerates value-creation work streams that the current team lacks bandwidth or skills to handle.
When you think about, you know, most people think, oh, you know what, they need interim role, we need an interim CFO, the CFO just left, you would go in, the company would identify that as they 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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