Interim CFO

How can an interim CFO contribute to your business?

An interim CFO is an acting CFO who can lead a change, transformation, acquisition, threat of closure or fill a critical vacancy when it is necessary to have the right skills and leadership. An Interim Manager can start the assignment immediately and bring excellent leadership skills and is experienced in driving and implementing changes.

An Interim CFO can create an important change or fill a vacancy.

I get an assignment, a mission and a deadline, that’s the only thing that counts.

Let us know what your business challenges are!

What specific competencies does an interim CFO have?

The interim CFOs we work with have at least 15 years of experience in operational change work from various companies and industries, usually in an international context. Deep knowledge and skills of the finance function, from accounting, including consolidated accounting, and reporting, to business control, financing, and implementation, is a requirement. Most of them also have experience of IPOs, acquisitions, carve-outs, buy-outs, etc. All our partners are verified good leaders with a habit of handling emergency situations where delivery from day one is necessary.  

As an Interim Manager, you can not just ‘stir up dust or revoke decisions. I make all the decisions that are necessary and support the management. You have to leave a strong organization when you end the assignment.

The Interim CFO creates calm in a stressful situation.

Why hire an interim CFO?

A problem needs to be solved – hiring an interim CFO is a safe and cost-effective solution. When the business is facing a change, need to perform a turnaround, integrate an acquired company, implement a new business system, or divest a company, an interim can run the project quickly and with a committed and motivated team – with sustainable results. Sometimes you need to bridge a vacancy and here an interim CFO can quickly come in and ensure that the finance function continues without interruption.  

An interim CFO can also support the existing CFO in a specific project or sub-part. Our customers can be found in listed and privately-owned companies, as well as in the public sector.  

By engaging an interim, the business achieves rapid results in the form of increased growth, reduced costs, more effective processes, implemented change, or as support during the time you are recruiting a permanent CFO.  

Eva Kaijser, one of the interim CFOs we have the privilege of collaborating with, says that an example of an assignment is when a CFO does not have the time or capacity to carry out, for example, an IPO, acquisition, or reconstruction. “This is where I do the most good. One day I am in a company that is at the top, and the next day it is a reconstruction. That’s what drives me.” 

Read the full interview here.

When is it a good idea to hire an Interim Manager?

An interim CFO creates results from day 1.

Quick results from day 1

By engaging an interim CFO, your business achieves quick results in the form of increased growth, implemented change or as support during the time you are recruiting a permanent CFO. The interim is part of the management team, reports to the CEO, and is used to collaborate and communicate with the board, owners and other stakeholders. We also appoint business-critical roles such as experienced Business Controllers, Accounting Managers, Group Accounting Managers, Treasury or Compliance.  

Read more about Interim Managers here.

3 examples of when you may need an interim CFO

1. To drive a transformation

The role of the CFO is often to create stability in a major change, a transformation. A transformation can mean many different things, ranging from changing the business model, entering new markets, or expanding or adapting a business to new external conditions. During all changes, the company’s basic routines and processes in the financial area must still work, something that is the CFO’s core responsibility. The CFO often also has a strategic role alongside the CEO and the management team in identifying the major changes that need to be made, and in the practical work in the actual implementation.

2. To lead a turnaround

The CFO’s role is often to lead the processes when a company has profitability problems. To perform a turnaround, an analysis needs to be made to find out where the problem areas are, to be able to develop and implement a strategy to overcome the issues. In severe situations, the best solution can be to liquidate the company. The interim CFO leading the turnaround will assess the causes of the situation and develop a strategic plan that needs to start at once. Usual measures are, for example, lowering the costs of the production, make the purchasing organization more efficient, renegotiate with the suppliers, banks and investors, and to analyse the needed skills for the transformation. During a turnaround, the focus must be on processes, structures, costs, and sales. To be successful, you will need a leader who has done this several times before and the ability to motivate and engage the organization.  

Read an interview about performing a turnaround here.

3. To carry out acquisitions or divestments

When performing an acquisition or a divestment, there is often an impatience from owners and board to see their expectations become reality. But if the process goes too fast and is not properly controlled, things can go wrong. To lead the complex process of M&A or divestment, you need to have extensive experience in everything from analyzing new business opportunities, to negotiations with banks and investors, find the right buyer, perform a due diligence, etc.

Driving and leading these kinds of complex processes require energy, skills, and the right resources. Some businesses lack the needed competence internally to run a complex and business-critical process. To achieve the goals, an interim CFO efficiently leads the different workstreams in a sustainable way and secures the expectations of the CEO, board, and owners.

Read an interview about change management, divestment and acquisition here.

What attracts me with interim management is to drive change, leadership, and that you clearly see the result of your work. Unlike management consultants, I am hands-on and drive change together with my colleagues as one in the team.

Quality and Commitment

Since 2004 Nordic Interim has supported its clients with Executive Interim Management services with a focus on quality, skills, and implementation. We offer solutions to critical and complex business challenges in the Nordics and internationally, for both the private and public sectors.

With our own experience from line management and executive search roles in several industries and sectors, we contribute with advice and knowledge throughout the entire process, from assignment analysis to follow-up to ensure successful and sustainable results.

FAQ about Interim CFO

What roles can an interim CFO fill?
  • CFO /Chief Financial Officer
  • Financial Manager/Director
  • Interim Project Manager for a specific project such as M&A, IPO or setting processes
  • Head of Accounting/Head of Group Accounting
  • Head of Business Control/Head of Group Business Control
  • Project Lead IPO, Carve-Out or M&A
  • Treasury 
  • Anti Money Laundry
When do I need to hire an interim CFO?
  • In the event of a transformation or a turnaround
  • In insolvency situations
  • In case of M&A, integration, or carve-outs
  • Preparing and performing an IPO
  • To implement processes and structures
  • In case of a lack of competences or leadership
  • If there is a need for support in specific projects
  • In the event of a vacancy
  • When implementing a new business system
Why choose to engage an interim CFO?

An interim CFO is a safe and cost-effective choice when your business is facing a change, a turnaround, integrations, implementations of new business systems, acquisitions or divestments or when you need to fill a vacancy. An interim CFO can also step in and support the existing CFO in a specific project or module. This applies to both listed and privately-owned companies as well as in public activities. By engaging an interim CFO, your business in a short time achieves rapid results in the form of increased growth, implemented change or as support during the time you recruit a permanent CFO.

Read more about when it is a good idea to hire an interim here.

Are you specialized within a special industry?

No, we cover and have experience of, all industries within the commercial business and the public sector.

Do you have Interim Managers across Sweden?

Yes, we are active and have a network in the whole country.