As we move through 2025, business leaders are navigating a perfect storm: geopolitical instability, rising capital costs, digital disruption, and relentless investor pressure.

Although the recent years have presented market challenges, one area that has shown notable growth is the hiring of interim CEOs. Once considered a niche or reactive measure, interim CEOs are now a deliberate, strategic tool deployed by boards, private equity firms, and founder-led businesses to lead through complexity, transformation, and transition.

Jonny Whately-Smith, Associate Partner within the Business Transformation Practice at Eton Bridge Partners, has spent his career at the sharp end of leadership change. Drawing on his first-hand experience, he shares his perspective on the sharp rise of interim CEOs – and why this shift is more than just a passing trend.

Interim CEOs: From stopgap to strategic audition

In 2025 so far, I have successfully delivered twice as many interim CEOs as in any previous period and this isn’t a coincidence. According to a 2025 Forbes report 18–25% of all incoming CEOs this year have been appointed on an interim basis – a staggering increase from just 6–8% in early 2024.

This trend indicates that interim leadership has evolved into a critical asset for organisations facing pivotal moments.

One of the most consistent messages I hear from boards is this: “We need time to get the permanent hire right—but we can’t afford to pause.”

Interim CEOs create that window without slowing down operations or transformation. Whether stepping in after a sudden CEO exit, post-deal integration, or in founder succession, interim leaders stabilise, refocus, and advance strategy while long-term decisions are made.

Challenging a key misconception: Interim CEOs don’t have to be “career interims”

Many interim CEOs are seasoned executives with decades of leadership experience, actively between permanent roles. The right opportunity does not always present itself immediately, and rather than remain dormant, these leaders bring their expertise to organisations in transition – creating significant value during critical periods.

Over the past 12 months, more than 75% of the interim CEO placements I’ve made have transitioned into permanent roles within the same organisation. These leaders earned the trust of stakeholders and proved impact in live environments – something traditional hiring processes can rarely simulate.

Many of today’s most impactful interim CEOs come from distinguished backgrounds such as:

• Former operators navigating between mandates: Executives with deep operational experience who temporarily step away from permanent roles yet remain fully engaged and mission-focused.
• Founders and entrepreneurs post-exit: Visionary leaders who, after successfully exiting ventures, seek purpose-driven assignments where they can deliver tangible impact without the long-term commitment.
• Private equity veterans with proven turnaround credentials: Strategists skilled at navigating complexity and accelerating value creation during periods of change, often stepping in to stabilize and reposition companies.
• Seasoned CEOs seeking impact over tenure: Senior executives who prioritise meaningful transformation and strategic outcomes over the duration of a traditional CEO tenure.

These leaders are top-tier executives who deliberately choose interim engagements to deploy their expertise with agility, precision, and an unwavering focus on mission-critical results. For C-suite decision-makers, recognising this shift is crucial. Engaging an interim CEO is not a compromise, but a strategic move to accelerate change, preserve continuity, and set the stage for sustained growth.

Where are interim CEOs delivering the most impact?

In my recent work, interim CEOs have been deployed into environments including:

• Post-acquisition integration and synergy execution
• Founder/ family-business transitions
• Cost restructuring and turnaround mandates
• Pre-IPO preparation and capital stack reengineering
• Technology modernisation and digital transformation
• International market entry and scaling

Often, these leaders are hired under different titles depending on mandate, including:

• Executive Chairman (with operational remit)
• Transitional CEO
• Chief Restructuring Officer (CRO)
• Strategic Growth CEO
• Interim Managing Director

Regardless of title, their impact is the same: accelerate clarity, drive change, and prepare the business for what’s next.

What boards and C-suite leaders should keep in mind

• It’s a strategic investment, not a stopgap: Interim CEOs often drive major change, reset culture, or reposition the business – not just keep the seat warm.

• Mandate matters more than duration: Define outcomes clearly. Interim leaders thrive on clear, outcome-focused objectives.

• Fit still matters: Interim doesn’t mean generic. Sector knowledge, stakeholder alignment, and cultural compatibility are essential.

• Plan for multiple outcomes: Some interim tenures evolve into permanent appointments; others conclude with a clean, high-impact handover. Design the engagement to accommodate both.

The interim CEO as force multiplier

Today’s interim CEOs bring three strategic advantages:

1. Executional urgency: They operate without political drag and deliver results quickly.
2. Strategic clarity: Their outsider perspective cuts through groupthink and legacy bias.
3. Continuity without complacency: They ensure progress without defaulting to “business as usual.”

Research backs this up; a 2020 study by He & Zhu (Strategic Management Journal) found that interim leadership, when managed with transparency and intent, enhanced organisational performance and improved succession continuity. When used strategically, the interim phase becomes a launchpad, not a pause.

Not every CEO role requires an interim leader, but when boards and leadership teams align the right interim talent with a clear mandate, the impact can be transformative. These appointments don’t just buy time – they generate insight, build momentum, and drive measurable strategic value.

As expectations of executive leadership evolve, it’s time for boards and investors to reframe interim leadership, not as a stopgap, but as a high-impact strategy for growth, continuity, and transformation.

With the demands on CEOs changing rapidly, now is the time for boards and C-suite leaders to rethink what effective succession and transition truly look like for your business.

If you’re considering a CEO hire or want to explore the value creation interim roles can bring to your leadership team, please get in touch to continue the conversation.