PepTalks, the leading PE-focused membership community, recently hosted a masterclass with three of our Partners: Marcus Shah, Katrina Stewart and Jason Shaw.

All deeply embedded in private equity-backed hiring. As PepTalks Advisory Members, they work closely with CEOs, CFOs and CPOs across dozens of portfolio companies, giving them a frontline view of the leadership realities shaping the investment lifecycle.

What emerged was a clear message: PE-backed businesses now demand more precision, more capability and more depth in their leadership teams than at any point in the past decade. The following summarises the key themes which were discussed and reflect where the market is shifting in terms of hiring and leadership trends.

Hiring themes: Capability that accelerates value creation

Four hiring trends now dominate the PE landscape.

1 – Interim finance support at exit
Exit processes have become more technical and bandwidth-heavy. CFOs often lack the internal capacity to manage BAU and diligence simultaneously. Interim FP&A, modelling and data-room specialists play an important part in delivering a successful exit and as an exceptional cost do not impact EBITDA.

2 – Chief of Staff and transformation roles
CEOs increasingly need leverage to deliver complex value-creation agendas. Chiefs of Staff and Chief Transformation Officers co-ordinate workstreams, drive accountability and maintain momentum across commercial, operational and integration programmes. These roles act as force multipliers for overstretched leaders.

3 – The rise of the commercial CPO
The CPO has moved from HR operator to strategic architect, shaping organisational design, leadership alignment and culture, all central to value creation. As Katrina emphasised, a CPO is a business leader first, people specialist second.

4 – Executive Chair appointments
PE-backed businesses are increasingly appointing Executive Chairs to supplement incumbent CEOs, addressing critical skill gaps or executing value-creation initiatives where a full CEO change is either unnecessary or impractical as it’s late in the investment cycle.

The CPO role: From HR administrator to value-creation partner

The distinction between an HR Director and a CPO is now stark. HR directors run processes; CPOs design the organisation required to deliver the strategy. They sit alongside the CEO and CFO in a strategic triumvirate that shapes value creation.

CPOs become essential when the organisation outgrows its HR function. Typically between 100–200 people, during international expansion, or in buy-and-build scenarios. At this point, complexity exceeds operational HR capability.

A modern CPO:

• Aligns structure and capability to the value-creation plan.
• Manages leadership behaviour and cohesion under pressure.
• Integrates culture during M&A.
• Leads workforce planning for automation and AI.

Their impact is simple: better organisation design, stronger leadership alignment, and a more resilient culture.

CFO and finance hiring: Pressure, retention and capability gaps

Jason’s perspective was unequivocal: CFO turnover in today’s PE market is primarily a mid-cycle issue driven by misalignment rather than performance alone. Extended exit timelines and equity that feels underwater have reduced the perceived upside for many CFOs. From the investor side, change is often capability-led, as businesses become more complex or the brief shifts toward new requirements such as debt-funded M&A or tighter cash and reporting disciplines.

Jason argued that CFO’s disengage because of uncertainty and lack of communication. When equity outcomes are unclear, incentives are deferred and timelines remain opaque, silence accelerates the disconnect.  Whilst the problems don’t go away, CFOs are more likely to stay when CEOs and investors are open and honest about the journey, clear on when incentives will be revisited, and proactive in supporting the role through the right resourcing and infrastructure.

Hiring trends mirror these pressures:

• Strong No.2s (FC or Head of FP&A) are even more critical hires.
• Interims are being widely used to protect CFO effectiveness during key inflection points.
• Investors increasingly want experienced CFOs with prior transaction or refinancing experience (especially if they plan to exit within 24 months).

Succession management: A CEO’s personal responsibility

Most portfolio companies remain “one deep” in critical roles. This fragility exposes businesses during integration, refinancing or exit. Precisely the moments where continuity matters most.

Effective succession requires:

• Early identification of future leaders.
• Exposure to the board and investors before they step up.
• Stretch roles that build judgment, pace and resilience.
• Structured development, not sink-or-swim promotion.

As Jason observed during the discussion, leaders only become ready by “being in the room where it happens.”

Executive hiring tips for PE-backed leaders

Drawing on the Eton Bridge Partners’ insights, six principles consistently lead to better hiring outcomes:

1. Align on the real mandate: ensure CEO, Chair and investors agree on success criteria.
2. Understand the market: know what is realistic and where trade-offs exist.
3. Build a credible package: align pay and equity with the role’s complexity.
4. Tell a compelling story: purpose and growth attract better candidates than pay alone.
5. Assess with discipline: interviews, scenarios, referencing and values-based evaluation.
6. Onboard intentionally: a 90-day plan and mentorship materially improve success rates.

In today’s private equity landscape, strategy alone is no longer enough to drive value. Leadership is the critical lever for growth, transformation and returns.

Eton Bridge Partners specialise in executive search and interim management for private equity firms and their portfolio companies, delivering world-class leaders who scale businesses, accelerate value creation and maximise returns. Covering all roles across the C-suite, their Private Equity specialists partner with funds throughout the investment lifecycle to appoint transformational leaders – both permanent and interim – precisely when they are needed most.

Explore Eton Bridge Partners’ Private Equity expertise here