What Is Interim Management? Definition, Uses, Cost (2026)
Interim management is the practice of placing an experienced executive into a line role for a defined period to deliver a specific outcome. It covers CEO, CMO, COO, CFO and functional mandates, and is bought on speed, seniority, and the absence of long term cost.
The short answer
Interim management means hiring executive capability by the mandate rather than by the contract of employment. The company gets a level of experience it could not usually justify permanently, for exactly the period the problem lasts.
What it is used for
- Covering a leadership gap after a resignation or removal
- Leading a turnaround, restructuring, or cost programme
- Running a company through a sale, carve-out, or integration
- Opening or fixing a country subsidiary
- Building a function that has outgrown its current leadership
Interim, fractional, and consulting compared
How a mandate is structured
A one page mandate letter states the outcomes, the decision rights, the reporting line, the rate, the duration, and the notice. Anything vaguer than that produces disputes in month three, when the difficult decisions land.
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