Hire a
Fractional CEO
Complete guide to finding, vetting, and hiring the perfect fractional Chief Executive Officer.
Where to Find Fractional CEOs
Six proven channels for finding pre-vetted, experienced fractional executive leaders.
PE/VC Networks
Portfolio company operating partners and executive talent pools.
Executive Search
Search firms with fractional/interim practices (Odgers, Korn Ferry, Spencer Stuart).
Fractional Platforms
Platforms like Fractional.Quest, Bolster, Chief, or Interim Hub.
Board Networks
Ask existing board members, investors, or NEDs for referrals.
YPO/Vistage Alumni
CEO peer groups with members seeking fractional opportunities.
Industry Events
SaaStr, Web Summit, or sector-specific CEO gatherings.
What to Look For in a Fractional CEO
Not all experienced executives make good fractional CEOs. Here's what separates the best from the rest.
1. Exit & Scale Experience
Have they successfully scaled and/or exited a company? Look for IPO, trade sale, or significant growth milestones at your target stage.
Exits over £50M, scaled from £5M to £50M+ ARR, clear metrics
No exits or only failed companies
2. Board & Investor Management
Can they manage board relationships and investor expectations? This is critical for fractional CEOs working with founders.
Board seat experience, fundraising track record, investor relations
Never reported to a board or managed investors
3. Founder Collaboration
Can they work alongside a founder without ego conflicts? Fractional CEOs often support founders, not replace them.
Experience as COO or #2, clear partnership approach, coaching mindset
Only been CEO, dismissive of founder involvement
4. Operational Depth
Do they understand operations beyond strategy? Can they build teams, manage P&L, and make hard decisions?
P&L ownership, team building, operational KPIs, hard decisions made
Only strategic/advisory, no operational delivery
5. Turnaround Experience
Have they led companies through difficult transitions, pivots, or turnarounds?
Restructuring experience, cost reduction, strategic pivots
Only worked in high-growth scenarios
6. Fractional Model Fit
Do they understand fractional working? Managing time, being effective in 2 days/week, clear priorities.
2-4 current clients, clear systems, portfolio approach
First fractional role, wants full-time really
Interview Questions to Ask
These questions separate strategic CEOs from administrators. Use them to assess leadership, vision, and fit.
🎯 Strategy & Vision Questions
- "Walk me through how you scaled [Company X]. What was your strategic approach?"
Listen for: Clear vision, measurable outcomes, leadership through ambiguity - "How do you approach board and investor management?"
Listen for: Experience with fundraising, board dynamics, stakeholder alignment - "Tell me about a major pivot or turnaround you led. What worked and what didn't?"
Listen for: Decision-making under pressure, ability to course-correct - "How do you balance short-term execution with long-term vision?"
Listen for: Prioritization frameworks, strategic clarity, operational pragmatism
📈 Growth & Scaling Questions
- "What organizational changes did you make to scale from X to Y in revenue?"
Listen for: Understanding of scale-up challenges, team structuring, process maturity - "How do you approach building a leadership team?"
Listen for: Hiring philosophy, executive development, succession planning - "Tell me about a successful exit or liquidity event you led."
Listen for: M&A experience, valuation optimization, deal execution - "How do you think about capital allocation and resource prioritization?"
Listen for: Financial acumen, ROI thinking, strategic investment decisions
👥 Leadership & Culture Questions
- "How do you work alongside founders without ego conflicts?"
Listen for: Partnership mindset, coaching approach, respect for founder vision - "Tell me about a difficult leadership decision—letting someone go, cutting a product, etc."
Listen for: Decision-making process, empathy, communication approach - "How do you build and maintain company culture during rapid growth?"
Listen for: Values alignment, culture-building tactics, scaling culture - "How do you stay effective working 1-2 days/week vs embedded full-time?"
Listen for: Async communication, clear frameworks, trust-building, delegation
The Fractional CEO Hiring Process
From first conversation to start date in 3-6 weeks. Here's the proven process.
Brief
Tell us about your needs, company stage, and what you're looking for in a fractional executive.
Match
We curate a shortlist of pre-vetted fractional executives who match your specific requirements.
Meet
Interview your top candidates. We handle scheduling and provide interview frameworks.
Start
Your fractional executive begins within days. We support onboarding and ongoing success.
Brief
Tell us about your needs, company stage, and what you're looking for in a fractional executive.
Match
We curate a shortlist of pre-vetted fractional executives who match your specific requirements.
Meet
Interview your top candidates. We handle scheduling and provide interview frameworks.
Start
Your fractional executive begins within days. We support onboarding and ongoing success.
Timeline Breakdown
Week 1-2: Define & Source
- • Define requirements and board involvement (Day 1-3)
- • Engage search firms, networks, referrals (Day 3-7)
- • Review candidates, shortlist 3-5 (Day 7-14)
Week 3-4: Interview & Select
- • First-round interviews (60-min calls)
- • Second round with board/investors
- • Deep reference checks (3-5 calls)
- • Make offer and negotiate terms
Week 5-6: Onboard & Start
- • Contract signing and legal review
- • Board introduction and context sharing
- • First week: stakeholder mapping
- • Begin strategic assessment
First 90 Days: Deliver
- • Month 1: Strategic audit, quick wins
- • Month 2: Build leadership alignment
- • Month 3: Execute strategic priorities
- • Decide to extend or part ways
Contract Terms & Structure
Standard terms for fractional CEO engagements. Adapt based on your needs and board requirements.
Standard Contract Template
Engagement Model
- Day rate: £1,000-£2,000 per day (based on experience and exits)
- Commitment: 1-2 days per week (specify exact days)
- Monthly retainer option: £4,000-£8,000 for predictable billing
Term & Notice
- Initial term: 6-month trial period (longer due to strategic nature)
- Renewal: Auto-renew to 12-month rolling contract after trial
- Notice period: 60 days either side (longer for CEO role)
Scope of Work
- Responsibilities: Strategic leadership, board management, investor relations, executive team development
- Deliverables: Strategic plan, quarterly board presentations, leadership alignment
- Exclusions: Day-to-day operations (unless scoped separately), full-time availability
IP & Confidentiality
- IP ownership: Company owns all strategic work product
- Confidentiality: Enhanced NDA terms, board-level confidentiality
- Non-compete: May apply to direct competitors during engagement
Optional: Equity
- Advisory shares: 0.25-0.75% for long-term engagements (12+ months)
- Vesting: Quarterly or annual vesting with cliff
- Cash reduction: If equity included, day rate may reduce 15-25%
Cost Comparison: Fractional vs Full-Time vs Interim
Understand the total cost of each CEO hiring option for your business.
| Cost Factor | Fractional CEO | Full-Time CEO | Interim Executive |
|---|---|---|---|
| Annual Cost | £100k - £200k | £250k - £500k+ | £200k - £400k |
| Days per Week | 1-2 days | 5 days | 5 days (fixed term) |
| Notice Period | 60 days | 6-12 months | Contract end |
| Employer NI/Benefits | None | £50k - £100k | None |
| Equity Required | Optional (0.25-0.75%) | 1-5% | Rare |
| Time to Hire | 3-6 weeks | 4-6 months | 2-4 weeks |
| Cross-Industry Experience | High (multiple companies) | Limited | High |
| Best For | Strategic leadership alongside founder | Large orgs needing full-time leadership | Leadership transitions, turnarounds |
Sources: Glassdoor UK, IOD Salary Survey, Market research
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