FDs favoured for filling boardroom gaps
Finance directors are the most sought after top-level interim management staff, according to a new survey that looks at 'captains of industry'.
The research, carried out by Mori for BIE/Board-level Interim Executive, found that FDs account for 43% of all interim appointments made, and the majority of them occur after an unexpected departure.
It also showed that company chiefs generally favour hiring interim executives over management consultants.
The results of the survey are not surprising, according to Martin Wood, managing director of BIE.
‘Finance skills are easily transferable, they can work across all industries,’ he said.
But he added that interim finance directors are difficult to find.
‘They have to be able to hit the deck running,’ he said, explaining that they must deal with a new boss, instil confidence in a team, and learn the finances quickly. He also said that many board-level directors, who are usually in their 40s and 50s, are put off by interim work because ‘a lot of these jobs are out of the suitcase.’
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