What is an Interim CFO?
Learn what an Interim CFO does, when to hire one, and how Go Fractional connects you with top financial leaders for your business needs.
June 30th, 2025
During times of rapid growth, transition, or crisis, organizations may need fast access to financial leadership. That's when interim chief financial officers (CFOs) can step in. These specialized leaders are trained to quickly stabilize operations and help companies prepare for their next chapter.
In this post, we'll break down what an interim CFO is, why companies hire them, how they differ from fractional CFOs, and how to find the right financial leader for your needs.
The definition of an interim CFO
An interim CFO is a finance leader who joins a company on a temporary but full-time basis. Unlike permanent hires, interim executives are brought on to fill a gap---whether due to an unexpected departure, a period of change, or a specific project---until a long-term solution is in place. They step in to assume the main responsibilities of a CFO, which usually includes overseeing a company's financial operations, cash flow, risk management, and reporting strategies.
Interim CFO engagements typically last a minimum of three months, but can go longer based on each company's needs. Some organizations might even convert their interim CFO to a permanent hire, or transition to a different leadership structure once stability is restored.
Key responsibilities of an interim CFO
Interim CFOs are often brought in during times of upheaval, whether companies are navigating sudden executive departures or financial crises. Their primary job is to provide steady leadership so business can continue running smoothly.
To that end, interim CFOs might be brought on to:
- Stabilize and assess financial health: Rapidly evaluate the company's current financial position, review cash flows, analyze financial statements, and identify key risks or vulnerabilities to stabilize the organization.
- Oversee financial operations: Manage day-to-day financial activities, including budgeting, forecasting, and reporting to maintain operational efficiency.
- Develop short-term financial strategies: Execute financial plans tailored to the company's immediate needs while supporting long-term objectives.
- Strengthen internal controls: Improve policies to mitigate risks, safeguard assets, and ensure regulatory compliance.
- Support executive team and board: Advise senior management and the board on financial matters and provide insights for decision-making.
- Prepare for permanent leadership: Help onboard the next CFO by documenting processes and ensuring a smooth transition to a permanent financial leader.
Why hire an interim CFO
If a company needs a new CFO, why not just hire a permanent one? Sometimes, the immediate need for financial expertise outweighs the importance of finding a long-term fit. Interim CFOs deliver results quickly, focusing on outcomes rather than tenure.
For example, organizations might bring on interim CFOs in response to:
Executive departures
If a CFO resigns unexpectedly, they leave the company with a sudden gap in leadership, which can lead to stalled strategies and wasted resources. That's where an interim CFO can help, keeping the finance team on track while the board searches for a permanent replacement.
Mergers & acquisitions or restructuring periods
Mergers, acquisitions, and restructurings are high-stakes transitions that require specialized guidance and expertise. Interim CFOs can help manage due diligence and integrations in times of organizational change.
Rapid growth and scaling
Businesses might grow too quickly and soon find themselves without the talent and resources they need to continue scaling. Interim CFOs can step in to deliver strategic oversight and help companies expertly navigate these periods of rapid growth.
Interim vs. fractional CFO: What's the difference?
If you need executive guidance but aren't ready to make a full-time hire, interim leaders aren't your only option. You might also consider fractional CFOs. While similar, fractional CFOs and interim CFOs are distinct solutions for meeting unique business needs.
Interim CFOs work on a short-term, full-time schedule and focus on tackling urgent, transitional challenges like financial crises or sudden changes in leadership. Fractional CFOs work on a part-time or contract basis, providing ongoing financial leadership and strategic guidance for specific projects and initiatives. They can also work with multiple clients at once, bringing their diverse expertise to organizations across industries.
| Feature | Interim CFO | Fractional CFO |
|---|---|---|
| Engagement | Full-time, temporary | Part-time, ongoing |
| Typical duration | 3+ months, as needed | Ongoing, flexible |
| Use cases | Crisis, transition, succession planning | Growth, optimization, strategic advisement |
| Path to full time | Possible, if desired | Rare, typically advisory |
How do you know which option is right for your company?
- Choose interim: If you're facing a sudden vacancy, complex transition, or period of instability.
- Choose fractional: If you want ongoing financial leadership or specialized expertise without the full-time cost and commitment.
What to look for in an interim CFO
Even though interim CFOs are hired for a short period of time, they still need to be the right fit---especially if they're guiding a business through a major change or roadblock.
Consider these qualities when searching for an interim CFO:
- Financial leadership experience: Proven track record as a CFO or senior finance leader, ideally across multiple industries and company sizes.
- Rapid strategic analysis skills: Ability to quickly evaluate the company's financial health, identify risks, and formulate actionable strategies.
- Advanced financial management skills: Expertise in financial reporting, budgeting, forecasting, and cash flow management.
- Change and crisis management skills: Experience navigating companies through transitions such as restructuring, M&A, refinancing, or crisis situations.
- Adaptability and flexibility: Comfortable adjusting to new environments, cultures, and business models; able to make an immediate impact and coordinate a smooth handoff to permanent leadership.
How to hire an interim CFO
Hiring an interim CFO shouldn't be time-consuming and complex. You should be able to find your new hire, onboard them quickly, and help them get to work. After all, if you're looking for a temporary executive, you may already be juggling a lot of moving parts. You don't need another stressful task to add to your schedule.
That's why Go Fractional makes hiring interim leaders easy.
Go Fractional is a network of over 1,200 highly vetted executives from companies like Google, Uber, Compass, and more. We specialize in both fractional and interim placements, and can even support contract-to-hire if you're looking for a long-term addition to your team. Every candidate in our community undergoes a rigorous interview process to ensure only proven leaders are presented to clients. If your needs are highly specific, we can also conduct a targeted executive search outside our network to find the perfect fit.
Find your interim CFO [add link?] or fractional CFO now.
How much does an interim CFO cost?
Interim CFOs are typically compensated on a monthly or hourly basis, with rates reflecting their experience and the demands of the role. Costs vary based on company size, industry, and complexity, but expect to pay a premium for top-tier, short-term leadership.
Interim CFO FAQs
How many hours do interim CFOs typically work?
Most interim CFOs work 20-40 hours per week, depending on the scale and complexity of the engagement.
How long does an interim CFO placement last?
Most interim contracts last a minimum of three months, with flexibility to extend as needed. Engagements can be structured for a fixed term or open-ended, depending on your company's needs.
Can an interim CFO become a permanent full-time hire?
Absolutely. At Go Fractional, we work to understand your expectations from the start and source candidates open to becoming full-time employees if the fit is right.
How does Go Fractional source and select interim CFO candidates?
The Go Fractional community is over 1,200 candidates strong but is highly selective. We personally interview everyone who applies and only allow true leaders with strong experience to join our platform and be presented to clients. If needed, we can also serve as headhunters and specifically conduct an executive search outside of our own community for your next hire.
An Interim CFO can be a game-changer for organizations facing uncertainty or rapid change. Whether you need someone to steady the ship, lead through a transition, or prepare for your next phase of growth, Go Fractional has the expertise and network to help you find the right leader---on your terms.
