Whether you’re running a startup, scaling fast, or facing financial complexity, the question eventually comes up: Is it time to hire a CFO? This guide breaks down when to bring in a full-time, fractional, or interim CFO — and how to know which one is right for your company’s stage.
Fractional executives — including fractional CEOs, CFOs, COOs, and CIOs — are the hottest thing in the C-suite. What started as a niche workaround has gone mainstream, with companies from fast-scaling startups to Fortune 500s tapping part-time leaders for big-impact roles.
These aren’t consultants or advisors — they’re deeply embedded executives, delivering high-level strategy, leadership, and results without the cost or commitment of a full-time hire.
But what exactly is a fractional executive? How is this different from an interim or outsourced solution? And when does it make sense to go fractional in the first place?
When technology stalls or transformation fails, it’s rarely because of tools or code. More often, the root issue is leadership — misaligned, ineffective, or stuck in the weeds.
That’s where interim CIOs step in. The best ones don’t just manage systems. They stabilize teams, reset direction, and accelerate outcomes — often under immense pressure and tight timelines.
At InterimExecs, we work with elite interim leaders across the globe through our RED Team. We sat down with some of our top-performing interim and fractional CIOs to understand what separates the good from the truly great.
Here’s what we found:
Not every company needs a full-time CIO (Chief Information Officer). But nearly every company needs smart, strategic technology leadership.
Enter the fractional CIO — a senior executive who brings years of tech and business experience to your company on a part-time or project basis. Whether you’re scaling fast, modernizing outdated IT infrastructure, preparing for a sale, or looking for IT to fuel your business growth, a fractional CIO gives you the leadership you need — without the full-time overhead.
So, you’re scrolling through LinkedIn or looking at an org chart and you see “Acting VP of Whatever” or “Acting CEO.” What’s the real deal there?
In a public company, “acting” or “interim” almost always says the same thing: “We’re in between permanent hires.” But look a little deeper and you may find some significant differences between one acting executive and another.
So you’ve decided to bring in an interim executive. Perhaps you need to temporarily fill a leadership role while you conduct a thorough search for a new permanent hire. Or maybe you need an experienced leader to spearhead a new initiative or helm the launch of a new product. Or maybe your company is in crisis and you need a turnaround expert to right the ship.
Whatever the reason you have chosen to bring on an interim executive, you are about to work with someone who works differently. That’s because interims are wired for action.
Here are 11 things to expect from an interim executive during their first 30 days on the job.
CFOs at private companies may come and go with little fanfare or long-term damage to the organization. But the sudden departure of a chief financial officer from a publicly traded company can send a tidal wave of worry through investors, employees, and stakeholders alike.
The CFO is the financial compass, the strategic partner, the place where the buck stops when it comes to fiscal responsibility and reporting.
And when the CFO role at a public company is vacant, the urgency to fill the void is paramount. “Later” simply isn’t an option. Let’s delve into why a public company needs a strong CFO, and needs them now. And then we’ll explore why many companies turn to an experienced interim CFO to bridge the gap.
PwC’s 2023 M&A Integration Survey found that just 14 percent of respondents reported achieving “significant success” in a merger or acquisition. The “secret sauce” to their M&A success? A whopping 88 percent point to the importance of IT integration.
Despite that, the fast-paced world of mergers and acquisitions often means that information technology concerns take a backseat to strategic business objectives during due diligence.
This oversight can be a costly mistake.
You’re on a public company board and the phone rings at midnight and it’s not good news: Your CEO or CFO has passed away. The next morning, the board convenes in emergency session. There’s only one subject beyond condolences for the tragic passing: Who is going to step into the interim CEO or CFO role?
Will you choose a placeholder from among your board, or will you choose to do something more proactive?
Let’s dive into the options.
Interim executives — experienced C-suite leaders who take on short-term roles — traditionally are found in turnaround situations, coming in to save companies on the brink. Or they are brought in to keep a company moving forward while a new permanent hire is identified and onboarded.
But there’s another leadership role that is tailor-made for an interim leader: Using their skills, experience and executive talent to guide fast-growing companies.
An experienced interim executive is the right leader for companies facing big points of change or growth. Interim and fractional executives often step in to address growing pains many organizations feel when they lack the systems and processes to scale. On the other hand, interim executives jump in as a key part of the diligence or post-acquisition integration strategy for companies and private equity firms leveraging an M&A strategy to expand.
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First-year Change Agent members have access to the Interim Institute’s 4 hour audio program on the Fundamentals of Interim Management, and a one-hour strategy session to help jumpstart their interim career.
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