You just received your CFO’s letter of resignation. Now what?
The role and objective of an Interim CFO is very different from that of a fractional CFO. A fractional CFO need typically arises from business success. The fractional CFO can spend time getting to know the business, leadership and key stakeholders, and also understanding cash flow needs and trends, and building processes.
An interim CFO does not have that luxury.
An interim CFO need often arises from a negative event (a resignation or termination).
An interim CFO must dive in quickly and has a very limited runway to build confidence and become effective.
For the CEO and Board, an interim CFO engagement involves significant risk. You are forced to make a decision you’d rather not make, on a timeline not entirely of your choosing, with one of the most important roles in your organization.
Even worse - and most firms won’t address this - if you choose the wrong interim you may wonder if your interim is acting strictly in your company’s best interests, or is auditioning for the permanent role, or entrench himself/herself in your organization.
Viewpoint has developed a proven process and approach for success in the interim CFO role. Our three-pronged focus not only provides a smoother transition but also sets the stage for a successful onboarding of your next permanent CFO.
Viewpoint has earned a reputation for always putting clients’ interests first - even when doing so is counter to our near-term interests.
Interested in learning more about this type of engagement? Request a brief case study here.