Interim CEO
When
a qualified, experienced person is appointed by the Board of Directors to act
as the Chief Executive Officer during turmoil he is known as Interim CEO Previous CEO leaves the position vacate after
his departure when this person steps in his shoe. This is not a permanent post.
This tag is temporary till suitable someone arrives to hold this crucial
position. Most of the time companies appoint someone trustworthy from their
existing employees. Company can also hire someone from other organization. Sometime
the
particular person gets absorbed by
the same company and receives the permanent tag of the Chief Executive Officer.
Any
established organization can have a sudden vacancy in the post of Managing
director due to termination, resignation and for health issue. Then they
appoint an Interim chief executive officer who can actually deal with the
situation with his year long experience. His job is to set a goal and follow it
till its execution. He coordinates with other executives and managers to meet
the challenges. As this person looks into financial matters with the CFO. He decides investment policy. He gets the
limelight during his tenure and if he fails he gets a red mark in his career.
As the face of the company he is solely responsible for the company’s future.
Mostly this position handle crisis situation. Regardless, only a veteran
experienced person can justify this post.
Interim chief executive officer holds his seat till a permanent claimant
arrives or he himself may turn into the official CEO if he performs extremely
well. There is no specific period assigned for this post. It has become a trend
to hire top notches on a temporary basis. Interim
CEO http://bitly.com/Interim-CEO-India can cope up with immediate crisis
where permanent person is highly difficult to find when it is most needed.
Problem can be solved temporarily. Sometimes they hire on a trial basis before
acquire them as a permanent employee. More companies are prone to acquire this
qualified person to get the certain effect.
Though
the position is temporary, but this position is as efficient as a permanent Chief
Executive Officer should have been. The primary objective of an this position
is to maintain the balance of the company and keep the flow of growth alive.
His knowledge, proficiency, relation with other employees, active participation
matter most to run the company successfully. This position demands a savior who
can actually sail the ship. This
person is skilled to achieve his target on time.
There
are few qualities that any CEO should possess which are leadership, decision
making power, foresight and strategy and planning. He should have a proper
knowledge of the organization and its structure. The Interim
Management has the power to adapt the situation
and implements new strategy accordingly. He is solely responsible for the
growth as well as for the loss. When a
company hires a short term management,
he adds value to the company. As this is not a permanent post, this position always
thrives for a better opportunity to get his position strong.
