Interim Managers in the CFO Role in Medium-sized Companies: Literature Overview, Conceptual Approach, and Empirical Study

Abstract

This study aims to provide interim managers in CFO roles in medium-sized businesses ideas on how to contribute to the success of a company within the limited time they have their assignment. A significant proportion of interim projects are in Small and Medium-sized Companies related to finance, controlling and accounting. In this paper, the impact of interim managers in the Chief Financial Officer (CFO) role in medium-sized companies and organizational capabilities on interim assignment outcomes regarding project success, company success, and CFO value contributions are evaluated. This research used quantitative research where the number of respondents was 167 interim CFOs as respondents from 22 European countries. The research has shown that they can deliver value, in particular, their CFO value contributions. Project success and Company success are determined by the organization agility rather than the interim manager. A recommendation is, therefore, to assess the companys agility at a very early stage and to discuss any deficits identified with the client. This avoids disappointment during the project if specific changes and improvements are not feasible due to a lack of corporate agility.