Mandate anatomy
Founder to professional CEO. Anatomy of a 14-month mandate.
Brief
Anonymised. A founder-led business at scale needs a professional operator but the board is not ready to commit to a permanent CEO without more data.
Direct answer
A founder-led business at 30 million euros of revenue, post-institutional round, needs the founder to step out of day-to-day operations. An interim CEO takes the seat for fourteen months. Founder moves to executive chair. Permanent CEO is selected with real operating data, onboarded by the interim.
Situation at engagement
- Revenue 30 million euros, 25 percent growth, 6 percent EBITDA.
- Founder exhausted, four direct reports competing for succession, no clear winner.
- Institutional shareholder wants professionalisation but no consensus on the permanent CEO profile.
- Two failed executive searches in the previous eighteen months.
First 90 days
- Founder role redefined publicly: executive chair, product and top-customer relationships.
- Governance rebuilt: monthly board pack, KPI dashboard, quarterly business review.
- Direct reports assessed. Two confirmed, one reinforced, one moved to a specialist role.
- Operating plan for the next twelve months signed by board and founder.
Months 4 to 11
- Business runs to plan, first two quarters ahead on revenue, on plan on EBITDA.
- Profile of the permanent CEO written jointly with the founder and the board.
- Search launched at month five, shortlist at month eight, offer signed at month ten.
- Permanent CEO shadows the interim through month eleven.
Outcome at month fourteen
- Permanent CEO in seat from month twelve, three-month overlap and handover.
- Founder in stable chair role, no operational bleed-back.
- Revenue at 36 million euros, EBITDA at 8 percent, both above plan.
- Search cost avoided on two failed prior attempts; interim fee inside the budget.
Continue reading
Hub
Interim CEO in ItalyOne senior operator with a C-level track record, the alternative to head hunter fees.
Related
How to find a CEOThe buyer-side playbook for the permanent search.
Related
Fractional CEOWhen the mandate is not full time.
FAQ
FAQ on founder-to-CEO mandates
Why use an interim CEO between a founder and a permanent CEO?
The founder gets a professional operator running the business now, without committing to a specific permanent hire. The board and the founder align on the profile of the next CEO with real operating data, not assumptions.
Does the founder stay involved?
Yes. Usually as chair or executive chair. The interim CEO runs day-to-day. The founder keeps vision, product direction and key customer relationships.
How is the permanent CEO chosen?
The interim CEO and the board write the profile jointly, run the search with a retained head hunter or their own network, and interview finalists together. The interim onboards the winner.
Need this seat filled. Fast.