Advice On Implementing An Interim CEO
Added on August 23, 2018
Your organization is in need of an interim CEO that can fill the seat until a more permanent solution can be put into place. Hiring the best temporary leader requires a strategy that combines a business as usual approach with the ability to not only recognize, but also easily adapt to the situation at hand. It is not a job for anyone that simply talks the talk, you have to be able to walk the walk! The interim CEO must have the necessary managerial ability, strategic skills, and experience in order to impact the business. The following information will provide you with advice on implementing an interim CEO.
Have Confidence In The New Interim CEO
It is the responsibility of the board of directors to choose an interim CEO that will benefit the organization until a permanent CEO is hired. The board must realize that it is necessary to allow that person to do their job without restrictions or the feeling that they are being watched under a microscope. Confidence is key and you need to trust the process; the new interim CEO is an expert at what they do. They have the knowledge, experience, and tools that are needed to bridge the gap between the former CEO and the future CEO.
Move Forward Without Delay
Once the interim CEO is in place they should immediately meet with the company’s senior and mid-level management teams to set a clear vision of the future. The organization will run far more smoothly when everyone is on the same page from the start. It is crucial that sales, customer service, and supplier relationships do not fall through the cracks during the transition period. It is also important for the interim CEO to meet with the organization’s attorney, bankers, and other crucial external partners.
Develop A Network Of Peers That The Interim CEO Can Lean On
It is important to develop a network of peers that the interim CEO can lean on when they start their new job. Business leaders need to be able to bounce ideas off of other people, gain industry based knowledge in areas that they are not experts in, and gain an understanding of the organization from an inside perspective. Some executives may be reluctant to allow the interim CEO inside the inner circle because they fear losing their jobs, or being stripped of certain powers and privileges. However, it is necessary to convey the message that the interim CEO must be made to feel welcome and they can rely on their peers. It will go a long way in ensuring that the transition will go as smoothly as possible.
Implementing an interim CEO provides the board of directors with the ability to properly perform their due diligence when hiring a permanent CEO after the position is suddenly vacated. Navera Group is ready at a moment’s notice and available when you need experienced interim executive management. Our team of experts will work hand in hand with your leadership team to ensure the best overall outcome for your company. If you have any questions, or would like more general information about our array of services, please contact us today. Phone: 617-356-7516; Email: Info@Naveragroup.com; Website: www.NaveraGroup.com