The role
An interim CEO is a full CEO for a defined period.
Brief
Same authority as a permanent CEO. Different time horizon and different bias for action.
What is the scope of an interim CEO?
Full P&L ownership for the duration of the mandate. The interim CEO reports to the board, shareholders or fund partners and operates with the same legal and operational authority as a permanent CEO.
Typical scope:
- Set strategy and 100-day plan
- Lead and reshape the executive team
- Own commercial, operational and financial decisions
- Represent the company to investors, banks, regulators and press
- Drive M&A, restructuring or exit when in scope
- Hire the permanent CEO and hand over cleanly
In the Italian market the position is often titled CEO ad interim or Direttore Generale ad interim. The scope and reporting line do not change.
What decision authority does an interim CEO have?
Full executive authority within the mandate agreed with the board or shareholder. The interim CEO signs, hires, fires, restructures and reports. Limits are set in the engagement letter, not implied.
What are the typical interim CEO mandates?
Turnaround
Stabilise cash, cut what does not work, refocus the team, restore margin.
Leadership gap
Cover a CEO exit or sabbatical. Keep momentum. Prepare for a successor.
Post-acquisition
Execute the 100-day plan for a PE fund or strategic acquirer. Integrate, align, report.
Scale-up push
Industrialise a founder-led business. Build the org for the next stage.
Crisis
Take the wheel in a regulatory, financial or reputational crisis. Communicate. Decide.
Transition
Hand a strong business to a permanent CEO or new owner without value leakage.
How is an interim CEO different from a consultant?
A consultant recommends. A CEO decides and is accountable for the outcome. Same lever, different seat.
Role questions
What the role actually covers.
Is an interim CEO the same as an acting CEO?
Overlapping but not identical. An acting CEO is usually an internal placeholder covering a gap without a full mandate. An interim CEO is an external senior operator hired with a defined mandate, full authority and a written plan.
Does an interim CEO have legal authority in Italy?
Yes when appointed as amministratore delegato or given a procura by the board. Signing power, statutory duties and liability sit with the appointed person for the duration of the mandate, exactly as for a permanent CEO.
Who signs contracts, banks and payroll during the mandate?
The interim CEO, within the authority granted by the board. Signing limits and dual-signature rules are defined in the engagement letter and mirrored in the bank mandates.
Can an interim CEO manage a unionised workforce and works council?
Yes. Trade union relations, RSU dialogue and CCNL application are part of the seat in Italy. The interim CEO leads the dialogue directly, in Italian, with support from the company's employment counsel.
Does an interim CEO also do investor relations and press?
When in scope, yes. Investor updates, banker briefings and press communication run through the interim CEO. Reputational calls stay with the board.
What does an interim CEO not do?
No long-term equity story that outlives the mandate. No hire that ties the successor's hands. No decision that only serves the interim window. The mandate is judged on the state of the business at handover.