The Interim Executive Model
Interim management has matured significantly in the UK over the past two decades. What was once seen as emergency cover has evolved into a strategic tool for navigating change. The Institute of Directors reports that over 30% of UK companies have used interim executives in the past five years.
Interim executives differ from permanent hires in crucial ways: they're hired for outcomes rather than tenure, bring external perspective without internal politics, and can make difficult decisions without career concerns at the company.
Key Characteristics of Interim Executives
- Full-time commitment: 4-5 days per week to one client
- Defined mandate: Specific objectives and success criteria
- Speed to impact: Expected to deliver within weeks, not months
- Objectivity: External perspective, no internal baggage
- Experience: 20+ years with proven senior leadership
Types of Interim Executive Roles
Virtually every C-suite and senior leadership role can be filled on an interim basis:
Interim CEO
Chief executive leadership during transitions, turnarounds, or succession gaps.
Rates: £1,500-£2,500/day
Interim CFO
Financial leadership for fundraising, restructuring, or transformation.
Rates: £1,000-£1,800/day
Interim COO
Operational leadership for scaling, integration, or performance improvement.
Rates: £1,000-£1,600/day
Interim CMO
Marketing leadership for repositioning, launches, or team building.
Rates: £900-£1,500/day
Interim CTO
Technology leadership for transformation, due diligence, or crisis.
Rates: £1,000-£1,800/day
Interim HR Director
People leadership for restructuring, culture change, or complex ER.
Rates: £800-£1,400/day
When to Hire an Interim Executive
Companies typically engage interim executives in these scenarios:
Succession Gap
Executive departs unexpectedly. Interim provides immediate coverage while recruiting permanent replacement.
Turnaround
Company in distress needs experienced leadership to stabilise operations and implement recovery.
Transformation
Major change initiative requires specialist expertise not available internally.
M&A Integration
Post-acquisition integration requires experienced leadership to merge organisations.
Crisis Management
Regulatory investigation, reputational crisis, or operational failure requires specialist response.
Interim Executive Compensation
Interim executives command premium rates, reflecting their experience and temporary nature:
| Role | Daily Rate | 6-Month Engagement |
|---|---|---|
| Interim CEO | £1,500-£2,500 | £180k-£300k |
| Interim CFO | £1,000-£1,800 | £120k-£220k |
| Interim COO | £1,000-£1,600 | £120k-£190k |
| Interim CTO/CMO | £900-£1,600 | £110k-£190k |
| Interim HR Director | £800-£1,400 | £96k-£170k |
Interim vs Fractional Executives
Both models provide flexible leadership, but serve different needs:
Interim Executive
- Time: Full-time (4-5 days/week)
- Duration: 3-12 months
- Clients: One at a time
- Purpose: Gap, crisis, transformation
- Rates: £800-£2,500/day
Fractional Executive
- Time: Part-time (1-3 days/week)
- Duration: Ongoing (6 months+)
- Clients: 2-4 simultaneously
- Purpose: Ongoing leadership at reduced cost
- Rates: £700-£1,600/day
The Bottom Line
Interim executive in one sentence:
Experienced senior leaders who provide temporary full-time leadership (3-12 months) during transitions, transformations, or crises—bringing immediate impact without long-term commitment.
The interim executive market continues to grow as organisations recognise the value of experienced, flexible leadership during critical periods. For the right situations, an interim executive can deliver transformational impact.