Leadership Lounge: How to Succeed as an Interim CEO

Summary

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How to Succeed as an Interim CEO

Redefiners – Leadership Lounge, July 15, 2026
Hosted by: Emma Combe
Guests: Effie Ekaizi, Amy Williamson, Justice O’Brien (Leadership Advisors, Russell Reynolds Associates)

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Episode Overview

In this episode, host Emma Combe and a panel of global leadership advisors dive into the rising trend of interim CEO appointments, examining why organizations turn to interim leaders, the unique challenges these roles entail, and practical strategies for success. The discussion draws on data, real-world examples, and expert insights to help both aspiring and current interim CEOs navigate this high-stakes, high-impact position.

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Key Discussion Points & Insights

1. The Rising Prevalence of Interim CEOs

[02:24 - 04:38]

• Interim CEO appointments have increased globally — notable data: 27 interim CEOs in major indices in 2025 (up from 16 in 2024).
• Drivers of this trend:
  • Increased Board Pressure & CEO Churn: Greater demand for shareholder returns, higher rates of burnout, and shorter CEO tenures (many lasting less than three years) mean more unexpected departures (Effie Ekaizi, [02:55]).
  • Lack of Succession Planning: Nearly half of boards admit they lack formal CEO succession plans ([03:34]).
  • Candidate Motivation Shifts: The conventional “obvious number two” is now often opting out, prompting boards to seek a steady interim presence (Amy Williamson, [04:45]).
• “Boards are not necessarily set up with the right succession planning that they would typically have in these situations.” — Effie Ekaizi [03:14]

2. Why & How Interims Differ from Permanent CEOs

[06:06 - 08:22]

• The "Ticking Clock": Whereas a permanent CEO might expect a 6-7 year tenure and a “honeymoon period,” the interim typically serves for 9 months or less and is expected to deliver immediately (Justice O’Brien, [06:14]).
• High-Stakes Decision-Making: Interims must act swiftly, absorb information fast, and exert authority without full knowledge or established relationships ([06:46], Emma Combe anecdote).
• Psychological & Social Pressures:
  • Intense uncertainty—tenure could be very short or extend unpredictably.
  • Heightened isolation—“The CEO role is the loneliest job in the world, and I think the interim CEO role multiplies that by 10.” — Effie Ekaizi [07:39]
  • Building trust with a fresh team under scrutiny.

3. Setting Up for Success: Clarity on Mandate

[09:11 - 12:56]

• Eliminate Ambiguity: The most fundamental question for an interim CEO: "Why am I here? What is my purpose?" (Justice O’Brien, [09:11]).
• Different Contexts Call for Different Approaches:
  • Stabilization after a founder's sudden exit
  • Rapid performance turnaround in a crisis
• Real-World Example: A board chair became interim CEO strictly to stabilize a faltering company, making clear upfront he did not want the permanent role—leading to clear expectations and focus ([10:04]).
• Critical Takeaway: Be explicit in conversations with the board about your intended duration, ambitions, and the outcomes they expect.

4. Trust-Building in an Accelerated Timeframe

[13:40 - 14:53]

• Strategies for Earning Trust Fast:
  • Go beyond direct reports—"He interviewed two or three levels down... asked everyone the same questions about priorities and what the company should be doing.” — Justice O’Brien [13:40]
  • Listen widely, communicate openly, and suppress ego.
• Signals for the Organization: Going “deep into the organization” shows curiosity, accountability, and earnestness.

5. If You Want the Permanent CEO Role

[16:05 - 17:05]

• Clarify Your Intentions Early: At appointment, ask if a permanent role is possible and let the board know your interest—prevents misunderstanding and missed opportunities.
  • Example: “We were running a CEO search... It was only until the end that the interim signaled they wanted the job. The board had assumed they didn’t.” — Effie Ekaizi [16:35]
• Continuous Dialogue: Don’t “set it and forget it”—motivation and context can evolve.

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Notable Quotes & Memorable Moments

• On Board Readiness:
  “Boards are not necessarily set up with the right succession planning that they would typically have in these situations.”
  — Effie Ekaizi [03:14]

• On Pressure:
  “The average tenure of an interim CEO is nine months or less. An interim CEO gets a stopwatch.”
  — Justice O’Brien [06:14]

• On Loneliness & Grit:
  “The CEO role is the loneliest job in the world, and I think the interim CEO role multiplies that by 10.”
  — Effie Ekaizi [07:39]

• On Ambiguity:
  “The most fraught word in interim leadership is ambiguity.”
  — Justice O’Brien [09:11]

• On Building Trust Quickly:
  “It takes years to build trust and minutes to destroy it. Well, in a sense, a new CEO has to flip the script a little bit and build that trust in a very compressed time frame.”
  — Justice O’Brien [13:40]

• On the Importance of Conversation:
  “You need to make sure that the board are aware of your intentions and whether you do want the role permanently... that idea of really making sure your intentions are clear is often something that individuals miss.”
  — Effie Ekaizi [16:35]

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Practical Takeaways

For Interim CEOs:

• Get absolute clarity on your mandate and timeline from the board—ask specific questions on priorities and expectations.
• Be transparent about your aspirations for the permanent role, and revisit the conversation as circumstances evolve.
• Communicate frequently and openly—with the board and the broader organization.
• Build rapid trust by listening across layers, not just at the top.
• Focus on the organization’s needs, not on personal job security or legacy.

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Key Timestamps

• 02:24: Data on rising interim CEO appointments, root causes explored
• 04:45: Board/candidate motivation shifts
• 06:14: Unique pressures and differences of interim CEO roles
• 07:39: Psychological and isolation challenges for interims
• 09:11: The necessity of mandate clarity—core questions to ask
• 10:04: Example of clear board/CEO communication on role intent
• 11:21: Success stories and mandates in practice
• 13:40: Building trust under rapid timelines—strategies/advice
• 16:05: If you want the permanent role, how and when to communicate intentions

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Conclusion

The episode underscores that as interim CEO appointments become more common, success in these roles hinges on immediate clarity of mandate, proactive communication, and rapid trust-building. Whether stabilizing or transforming, interims must lead boldly for the organization, not just themselves—positioning both the company and their own careers for the next chapter.

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Transcript

[A]

Foreign.

[B]

Welcome to the Leadership Lounge, a place to kick back and listen as our experts dissect some of the biggest questions leaders face today. I'm Emma Coombe, Leadership Advisor in our London office. In today's episode, we're talking about the rise in interim CEO appointments and how you can succeed in that role. Some of the most notable leadership successions of recent decades have included an interim chapter. Tim Cook served as interim CEO at Apple before ultimately succeeding Steve Jobs, while Howard Schultz returned as interim CEO at Starbucks multiple times during key transition periods. And more recently, Stella David was appointed permanent CEO at Entane after initially stepping into the role on an interim basis. But taking on an interim CEO role isn't easy. You're often expected to provide stability during uncertainty, make important decisions from day one, and build confidence among employees, investors, customers and the board, all while everyone knows your appointment may be temporary. So how do you establish trust with your executive team, make difficult decisions, and create momentum when your future in the role remains unclear? And if your ambition is to become a permanent CEO, how do you approach that conversation with the board? Before we dive in, remember to share any burning questions you want our experts to answer by emailing redefinersrusslerynolds.com we look forward to hearing from you. And if you enjoy listening to our episodes, leave us a review on Apple or Spotify. And if you're looking for practical advice on how to navigate high stakes moments in your leadership journey, whether that's becoming an interim CEO or looking to drive more impact in your current role, Search youh Leadership Journey by Design where our experts share their insights. We'll share a link to it in our show Notes. Let's dive in. First up, I'd like to welcome Effie Ekaizi, Leadership Advisor at Russell Reynolds Associates Miami Office. Effie has over two decades of experience advising senior leaders, and I'm looking forward to hearing his perspective on the topic. Effy, welcome to the Leadership Lounge.

[A]

Thanks for having me. Delighted to be here.

[B]

So, before we really get into how to succeed as an interim CEO, I'd like to first speak a little bit about the increase in appointments. While interim CEO appointments are still uncommon, our data shows that in 2025, 27 interim CEOs were appointed on the major indices around the world that we track, which is a significant increase from 16 in 2024. Let's dig into some of the reasons why these appointments are increasing in the first place. Effy, what's driving it in your experience?

[A]

There's a few factors I think are at play here for me, Emma, I think the main thing is the ever increasing pressure boards are under right now. You have a climate where there's an increasing demand for shareholder return and there's a lot of churn in the CEO role, a lot of unexpected departures. I think we're still seeing a post Covid burnout phase with a lot of CEOs and a very short 10, 10 years as part of that. You kind of see a lot of the CEOs are not even lasting three years. As a result, you have this phenomenon of unexpected departures. And so boards are not necessarily set up with the right succession planning that they would typically have in these situations.

[B]

You're right, Effy. And many board clients I speak with do have to deal with this sudden emergency appointment situation. And while many organizations will have CEO succession plans in place, we have seen an increase in sudden leadership departures, whether driven by performance concerns or personal misconduct. When these unexpected events occur, boards take their responsibility to identify the right successor very seriously, in my experience, and that process naturally takes time. So appointing an interim leader can provide much needed stability and continuity for the organization during a period of real uncertainty. That said, not all boards place enough emphasis on succession planning. In fact, our research found that nearly half of board directors surveyed in 2025 reported they did not have a formal CEO succession plan in place. I'd now like to introduce Amy Williamson, Leadership Advisor in Russell Reynolds, Associate Sydney Office, to speak on this topic. Amy, welcome to the leadership lounge.

[C]

Thanks, Emma. It's great to be here.

[B]

Amy, are there any other factors at play here when thinking about the rise in interim appointments?

[C]

We've also seen a significant shift in the motivation of candidates. So historically, there might be a really obvious number two in place who may be expected to succeed into the role of CEO. And in fact, increasingly we're seeing that those CEO successes are opting out of that progression. It's easy to see why boards might need to choose an interim CEO. It allows them the time to steady the ship, to gather their thoughts and take the time to really make a considered and thoughtful decision on the permanent replacement.

[B]

That surprises me, Amy. And it's not actually something that I'm seeing as much with my clients. I think the CEO role is still very much coveted. But what I often see happen is that the board is actively developing leaders. But when an unexpected CEO departure occurs, the board has to weigh up whether their internal candidate is ready enough. And oftentimes they suggest that if it was in one to two years time, the gaps would be smaller or whether they need to opt for an external CEO, who of course, represents a significant risk, but might be a better solution for the business. I'd now like to welcome back our third guest into the lounge. Justice o' Brien is a leadership advisor at Russell Reynolds Associates New York office. Justice, welcome to the leadership lounge.

[D]

Thank you, Emma. It's great to be here.

[B]

So, justice, what makes the interim CEO role fundamentally different from a permanent CEO position? And what are some of the common challenges?

[D]

So, Emma, the biggest difference is the ticking clock. The average tenure of a CEO is six to seven years, sometimes more, while the average tenure of an interim CEO is nine months or less. A new CEO usually gets a honeymoon from the board, and that honeymoon can be up to two years. An interim CEO gets a stopwatch. So there's a lot that he or she needs to get done in a very short period of time. I think that's the most fundamental difference.

[B]

You're absolutely right, Justice. You don't have the luxury of setting aside several months to listen and learn before acting. You have to absorb information quickly, make, make decisions without complete information, and communicate confidently even when you're still building your understanding of the business. I actually heard a helpful anecdote today about how an interim leader is being supported by their key stakeholder. And actually that key stakeholder is having daily calls 7:45am every day, catching up with the person in the critical interim role so that they are well guided, well supported, and are able to really nail the mandate that the key stakeholder feels they should be executing upon. I thought it was a really interesting and very sensible approach. I also imagine that alongside the time pressures, the mindset pressure will magnify for interim CEOs. Effie, can you talk through some of those challenges?

[A]

There's certain psychological pitfalls you really need to be thinking of when you're heading into that interim CEO role. The main one is how do you operate with uncertainty? It's a role where you don't know how long you'll be in the role. It could be three months, six months, 12 months. And that uncertainty can really affect everything from decision making to building relationships to even thinking about the future as well. The other element is the isolation. We talk about the CEO role being the loneliest job in the world, and I think the interim CEO role multiplies that by 10. And so thinking about relationships, the political dynamics, building trust, all of those can really play a toll and make it a very difficult time for an interim CEO.

[B]

I think you're right, Effy. That Uncertainty piece can be really psychologically challenging for interim CEOs. There has to be a whole new level of resilience and grit to be able to land in businesses and build those relationships and have the right impact. And you often don't know how long you'll be in the role, and that can affect everything from your decision making to how you think about the future. So we've talked about some of the unique pressures and challenges that come with stepping into the interim CEO role. I'd like to now discuss how you can best set yourself up for success. And one of the best ways to do so is to get really clear on exactly what the board expects from you from the outset. I'd like to turn back to you now, justice, on this point. What do you see as some of the key questions you really need to ask your board at the start of your tenure as interim CEO?

[D]

Emma the most fraught word in interim leadership is ambiguity. The first question that an interim CEO needs to ask is, why am I here? What am I doing this for? What am I trying to accomplish? Am I coming in as a transformer? Am I coming in to stabilize the company? What is the purpose of my mission here? They're typically different circumstances. It could be that the individual's coming in to take over a very stable situation, and the job may be simply to keep the ship afloat during a period of transition. Alternatively, the company could be in crisis, and that might require more bolder and more robust action.

[B]

Completely agree. Justice Getting clarity on your mandate is critical. Do you have an example of an interim CEO client you've worked with who was really clear with their board?

[D]

I can think of a client that we worked with not too long ago who was serving as actually chairman of, of the board. This is a large food company, global food company, and he was asked to step in as interim CEO. He made it very clear to the board that he had no intention or no desire to remain in that position on a permanent basis. And the board understood that. He also had a lot of was given a lot of clarity around what the mission was. In this case, the company was having some pretty significant performance issues, and his job was to get in there and in the ensuing months, stabilize the business. So he had a very clear sense of what his purpose was and a very clear sense of his mandate. And I think that's the way these interim appointments should be approached.

[B]

That's a great example, justice and of course, so important they had that explicit conversation up front. And I would also hazard that an absolute priority was to manage the appointment of a permanent CEO and to be as helpful as possible in that context, particularly as they were clear that they didn't want to stay on. Amy, turning back to you, do you have any examples where interim CEOs were clear or unclear on the mandate?

[C]

A great example of being clear on the mandate was a tenured insider who we saw step into the CEO role on an interim basis following an unexpected resignation of the founder. The business was performing so well that the mandate was very clear. This was about maintaining stakeholder confidence through business performance, performance and operational discipline. Whilst a permanent CEO was being identified, this tenured insider stepped into the role as a steward and not as a candidate for the role. So they had the opportunity to really think carefully about how they maintained the performance and operational discipline whilst being able to keep their own ambitions to the side. Additionally, what that meant was this individual could be quite an active coach and supporter of the incoming CEO once they were appointed another client that we've worked with, the context was very different. So in this particular situation, the company was under substantial performance pressure, shareholders were unhappy and the interim CEO was therefore mandated by the board to take a decisive, action oriented approach to drive the turnaround that was required. The interim actually undertook a 90 day review, reset expectations both internally and externally and focused very closely on cost and disciplined execution. Time was of the essence here, so the interim CEO had full authority by the board to act. And given the situation the company was facing, taking a really decisive approach was critical.

[B]

Thank you, Amy. And those examples really highlight that there is no single playbook for interim CEOs. In some situations, if the organisation is facing a crisis, you may need to take critical decisions very quickly and in others, it may be more appropriate to focus on maintaining stability and leave major strategic decisions to the permanent leader once they're in place. But the common thread throughout is how important it is to communicate, communicate, communicate, build clarity. Not only because it helps you focus on what's important, but it helps you build strong relationships and ultimately that trust justice. I'd like to turn back to you. Can you share any other advice you might have on how you can go about building trust as an interim CEO?

[D]

I'm glad, Emma, that we're focused on this trust building element of an interim CEO's tenure. There's that old adage which is it takes years to build trust and minutes to destroy it. Well, in a sense, a new CEO has to flip the script a little bit and build that trust in a very compressed time frame and that's particularly Difficult when the organization is experiencing a lot of uncertainty and a lot of anxiety. One of our multinational clients, the interim CEO, got to work very early on on establishing trust inside the organization was he didn't, as many do, just simply spend time with his direct reports and his leadership team. He actually went deep into the organization and he interviewed two or three levels down. And he did that in a very compressed period of time. And he asked everybody the same questions, you know, what are the three or four most important organizational priorities? What are the things that they thought the company should be doing? It's essential that the stakeholders believe that you're making decisions in their interest, in the interests of the organization, and not out of self interest.

[B]

What I particularly like about that example, justice, is that the interim CEO didn't assume the answer sat only around the executive table. And we've actually spoken about this previously on our podcast how important it is that CEOs conduct a skip level exercise and go a level below their direct reports to really hear what's going on. Going deeper into the organization also tells people that you're listening, that you're curious, and that you're making decisions based on a broad understanding of what's happening across the business. And I completely agree with the importance of removing ego from the equation. Whether or not you want the permanent role, people need to believe that your decisions are being made in the best interests of the organisation. I'd like to turn back to you now, Effie. In some cases, interim CEOs go on to secure the role permanently. Six months after Michael Benza's appointment at retailer Coles in May 2025, he was named permanent after significantly lifting sales. And Hayes PLC made Mark Durnley permanent in May this year after he moved from Chief Digital Officer into the interim CEO role in February. So, Effie, if you're an interim CEO and your ambition is to become permanent, when is the right time to have the conversation with the board?

[A]

It's a great question, Emma, and something many interim CEOs are looking for. Advice on how to navigate. Ideally, in these scenarios, you really want to have an understanding of the Board's perspective at the start of your appointment. There are some situations where there isn't even the option to become permanent. So the more you can flesh that out initially will really help your perspective. You don't want to be operating under false assumptions. And that narrative goes both ways. You need to make sure that the board are aware of your intentions and whether you do want the role permanently. There's a situation I was recently working on with a global med device client where we were running a CEO search. There was an interim in place and it was only until really, really towards the end of the search that that individual actually raised their hand to say they would like to do the job. The board had been operating under the assumption that the individual didn't, so that idea of really making sure your intentions are clear is often something that individuals miss.

[B]

That must have been a fascinating situation, Effie, to be involved in. And it does show the importance of having a continual dialogue, because actually the individual's motivations could have shifted during the course of the project. And making sure that you don't check in once or twice, but repeatedly is critical. And while being clear about your ambitions doesn't guarantee you'll be selected for the role, it does ensure that everyone is making decisions with the same understanding and expectations in mind. And perhaps that's the thread running through this entire conversation. The Most successful interim CEOs are clear on their mandate, transparent about their intentions, and focused on creating value for the organization from day one. Whether their tenure lasts six months or six years, they're able to build trust, provide stability, and leave the business stronger than they found it. So we're almost at the end of our time together in the Leadership Lounge. We're I'd like to thank Justice, Effie and Amy for sharing their perspectives. In 30 seconds, here's what we've learned. Interim CEO appointments are becoming more common as boards navigate increasing leadership turnover and unexpected CEO departures. Success as an interim CEO starts with clarity. Be crystal clear on your mandate, your priorities, and what the board expects you to achieve. Trust is your most valuable asset. Build it quickly by communicating openly, listening broadly, and putting the organization's interests first. And if you're interested in the permanent CEO role, be transparent about your ambitions early and focus on delivering impact rather than campaigning for the position. If you have any topics or burning questions you'd like us to cover in future episodes of Leadership Lounge, get in touch by emailing [e-mail] until next time. Goodbye.