Interim CEOs fill a unique role that requires diverse sets of skills in a vast array of disciplines. An Interim CEO must be a dynamic leader that people naturally want to follow. An Interim CEO must have extensive legal, financial, accounting, marketing, and business management knowledge. Interim CEOs must be able to manage crisis. In short, few people on earth have the necessary knowledge and skill sets to be an effective Interim CEO.
Whether the cause is internal, external, product related, market related, conduct related, or anything else matters not. Companies in crisis utilize Interim CEOs to resolve issues and prepare the company to move forward again. Remaining calm and effective under crisis pressures is a must.
Mergers & Acquisitions place unique pressures on any organization going through one. The skilled Interim CEO can assist in making the transaction accomplish the goals that were desired when a merger or acquisition was first contemplated.
Restructuring is a complex process that can often be done better by an Interim CEO since the Interim CEO will not have to work with the key players after the restructuring is accomplished, making it easier for key people after the restructure to work and play together better.