For companies that are experiencing leadership gaps – CEO, CFO, COO, CIO, CTO, CMO, CSO – interim executives step in to get a company on track, ultimately hiring their permanent replacement. The average assignment ranges from 3 months – 9 months, but can go as long as 2+ years. Read how more company owners are using interims or see if an interim executive is a fit for your company.
Part-Time & Fractional Execs
Fractional executives take on multiple clients, especially with companies at a stage where they are ramping up growth and are not ready to to bring on a full-time hire. Whether a CFO to put systems and processes in place or CMO to lead strategy and execution of marketing initiatives, companies get the benefit of a full-powered executive for a fraction of the cost. See how fast-growing companies are using part-time and fractional leadership.
Private Equity Operating Executives
Private equity funds utilize the RED Team to step into operating roles in PE portfolio companies seeking big growth and big returns. Sometimes there’s a leadership gap to be filled whether in the form of Interim CEO or CFO. More powerful possibilities come up when we bring in executives to grow the company, prepare for sale, or acquire and integrate other businesses to expand. An interim COO can streamline operations. An interim CFO can upgrade financial reporting. An interim CIO can improve IT systems. Private equity funds can build out an on-demand leadership team to scale. Read more on how PE funds can find top interims.
“Having someone embedded in our organization not only allowed substantive focus on multiple issues—it inspired real change.”
Project Execution & Implementation Teams
When companies undergo specific initiatives, they often draw on project executives to add resources to the team without adding to permanent overhead. In most cases, transformation is needed whether technology (SAP implementation, outsourcing, systems integration), operations (process improvement), finance (prepare for IPO, M&A transactions), marketing (product launch, market expansion), and beyond. Find more on the RED Team here.
“If you look at the most successful companies in the world they change, they adapt, they innovate.”
When companies find themselves wondering if they are on track — running efficiently, utilizing all resources, taking full advantage of the market and opportunities for growth — operating executives step in for a few days to a few weeks to get a full view of the organization: financials, operations, marketing, people, process, sales. At the end of the assessment, the executive or team will present a roadmap that a company can actually execute on. And if they need more resources to carry out the plan, our RED Team go beyond the world of consulting, and engage to make it happen. Ready how the best organizations have a good action plan for the future.
Turnaround, Distress, Restructuring
One classic use case for interim executives is turnaround. Revenues fall. Losses mount. Team morale plummets and key people leave. Whatever the level of distress, from minor storm clouds to catastrophic failure, turnaround specialists can step in to fix or preserve assets. Where true turnaround has been achieved, it means the interim executive has been successful transforming the organization, whether improved infrastructure and systems or enhanced culture, in either case leading to renewed profits and reinvigorated operations. See a turnaround CEO’s approach to getting things back on a positive track.
“They had a CEO that was leaving that had taken the organization in a direction that may not have been sustainable.”