Interim C-level Executive Support
A permanent role may be unnecessary or there may be insufficient time to make a permanent appointment. Internally, there may not be anybody suitable for, or available to take up, the position. Whatever the reason, this is the type of situation where executive interim management could prove invaluable. LAG has had experience with accepting the responsibilities for the following key positions:
- Chief Restructuring Officer
- Chief Executive Officer
- Chief Financial Officer
- Chief Operating Officer
- Chief Information Officer
- Consultant to Shareholders
There are several factors that make interim management a powerful effective resourcing option; these being:
Speed. Interim managers can be in place within days as opposed to weeks (essential when time constraints are paramount).
Unique Situation – Short-term Problem. The skills sets to rectify the present problem are not required for the long-term benefit of the company. (E.g. CEO during a merger or CIO who specializes in synergy integrations)
Experience. Interim managers will be more than qualified for the position they are taking on and will therefore be stepping down in responsibility. They also will have past experience of similar challenges to the ones they are about to face.
Objectivity. Unencumbered by previous involvement in company processes or staff relationships, interim managers provide a fresh perspective and are free to concentrate on what's best for the business.
Accountability. Rather than taking on a purely advisory role (as a management consultant would), interim managers are responsible and accountable line managers who will implement and manage a business or project in their own right.
Effectiveness. Operating at or near board-level gives interim managers the authority to effect significant change or transition within a company — unlike a temp; they're not just there to ‘hold the fort.'
Commitment. Interim managers are committed to an interim career. For them, this is never just something they are doing until a suitable permanent position is found.
There are a number of different business situations that could result in the need for an interim manager, which could include one or more of the following:
- Crisis management
- Start-up entities
- Sudden departure
- Managing change or transition
- MBOs and IPOs
- Unique project skills required
- Mergers and acquisitions
- Project management