Understanding Interim Board-Level Roles
The interim executive market has matured significantly in the UK. What was once seen as emergency coverage is now recognized as a strategic tool for navigating transitions. According to the Institute of Directors, over 30% of UK companies have used interim executives at board level in the past five years.
Interim board 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 Board Executives
- Full-time commitment: 4-5 days per week to one client
- Defined mandate: Specific objectives and timeline
- Speed to value: Expected to deliver impact within weeks, not months
- Objectivity: External perspective without internal baggage
- Experience: 20+ years with proven board-level track record
Types of Interim Executive Board Roles
Interim executives can fill virtually any board-level position. The most common roles include:
Interim CEO
Temporary chief executive providing leadership during succession gaps, turnaround, or transformation.
Rates: £1,500-£2,500/day
Interim Chairman
Temporary board leadership for governance, shareholder relations, and executive oversight.
Rates: £1,500-£2,500/day
Interim CFO
Temporary financial leadership for fundraising, restructuring, IPO prep, or succession.
Rates: £1,000-£1,800/day
Interim COO
Temporary operational leadership for transformation, integration, or performance improvement.
Rates: £1,000-£1,600/day
Interim CMO
Temporary marketing leadership for repositioning, launch, or team building.
Rates: £900-£1,500/day
Interim CTO
Temporary technology leadership for transformation, due diligence, or crisis response.
Rates: £1,000-£1,800/day
When Companies Use Interim Board Executives
According to research from BVCA and the Institute of Interim Management, companies typically engage interim board executives in these scenarios:
Succession Gap
CEO, CFO, or other C-suite executive departs unexpectedly. Interim provides immediate coverage while recruiting permanent replacement.
Turnaround
Company in distress needs experienced leadership to stabilize operations, manage stakeholders, and implement recovery plan.
Transformation
Major change initiative (digital transformation, restructuring, IPO prep) requires specific expertise not available internally.
M&A Integration
Post-acquisition integration requires experienced leadership to merge organizations, cultures, and systems.
Crisis Management
Regulatory investigation, reputational crisis, or operational failure requires specialist crisis leadership.
Governance Improvement
Board needs strengthening before a transaction, IPO, or to satisfy stakeholder/regulatory requirements.
Interim Board Executive Compensation
Interim board executives command premium rates, reflecting their experience, impact, and temporary nature:
| Role | Daily Rate | 6-Month Engagement |
|---|---|---|
| Interim CEO/Chairman | £1,500-£2,500 | £180k-£300k |
| Interim CFO | £1,000-£1,800 | £120k-£220k |
| Interim COO | £1,000-£1,600 | £120k-£190k |
| Interim CTO | £1,000-£1,800 | £120k-£220k |
| Interim CMO | £900-£1,500 | £110k-£180k |
Rates vary based on company size, sector, complexity of mandate, and location. FTSE 100 turnaround roles command the highest rates; SME succession coverage is at the lower end. Most interims work through limited companies and charge day rates without equity or benefits.
Interim vs Fractional Board Roles
Both interim and fractional executives provide flexible leadership, but they serve different purposes:
Interim Executive Board
- Time: Full-time (4-5 days/week)
- Duration: 3-12 months
- Clients: One at a time
- Purpose: Gap coverage, crisis, transformation
- Rates: £1,000-£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
Which Model to Choose?
Interim: When you need full-time coverage for a defined period—succession gap, turnaround, crisis. Fractional: When you need ongoing senior expertise but don't require (or can't afford) full-time—scaling companies, SMEs building capabilities.
Finding Interim Board Executives
Companies typically source interim board executives through three channels:
- Specialist interim firms: Odgers Interim, Boyden Interim, and similar firms specialize in board-level placements
- Executive search: Traditional headhunters increasingly offer interim divisions
- Networks: Board chairs, investors, and advisors often have established relationships with proven interims
- Platforms: Marketplaces like Fractional.Quest connect companies with vetted interim talent
Due diligence is critical: verify track record, check references thoroughly, and ensure the interim's experience matches your specific mandate. The best interims are selective—they take roles where they can genuinely deliver impact.
The Bottom Line
Interim executive board roles in one sentence:
Temporary full-time board-level leadership for companies navigating transitions—providing experienced executives (CEO, CFO, COO, etc.) for 3-12 months during succession gaps, turnarounds, transformations, or crises.
The interim executive market continues to grow as companies recognize the value of flexible, expert leadership during critical periods. For the right situations, an interim board executive can be the difference between successful navigation of a challenge and prolonged disruption.