One of the most notable chief financial officer trends this year has been a significant increase in the number of companies appointing temporary CFOs.
Cecile Guegan (Senior Vice President, Finance, Global Biopharmaceutical Business) was named interim CFO at Pfizer in June and in the following month, GE HealthCare appointed Controller and Chief Accounting Officer, George Newcomb, as interim CFO.
Some appointments have rather stretched the definition of interim – for example, Cliff Baty has been in this role at Rank Group since February.
Data from Russell Reynolds Associates’ Global CFO Turnover Index indicates that interim CFOs accounted for 12% of newly appointed hires in Q126, up from 6% in 2025. The 2026 High-End Independent Talent Report from Heidrick & Struggles paints a similar picture, noting that interim CFOs account for more than half of all interim leadership requests.
Such appointments can be a sensible approach provided the mandate is clear, suggests Avramar Group Treasurer, Marianna Polykrati.
“Following an unplanned departure, a company needs expertise and continuity in liquidity management, financial reporting, internal controls, banking relationships and communication with the board,” she says. “An interim CFO can provide this stability while giving the company sufficient time to run a proper search rather than rushing into a permanent appointment.”
She stresses that an interim position should have clear authority, clarity of scope and access to the CEO and the board and not just be filling in the role. Otherwise, the organisation risks creating uncertainty at exactly the moment when finance leadership needs to be strongest.
Polykrati agrees that an increase in foreseeable transitions creates an opportunity for firms to plan for change earlier, manage handovers more strategically and therefore reduce disruption.
“CFO transitions should be treated as strategic events, not administrative changes,” she says. “When companies can anticipate a transition, they have the opportunity to plan succession, prepare internal candidates, structure a proper handover and minimise disruption for the board, finance team, banks and investors.”
A strong transition plan should cover not only reporting deadlines and statutory obligations but also cash visibility, debt and funding matters, key risks, major projects, stakeholder relationships and team morale.
“In my view, the quality of the handover often determines how quickly a new CFO can become effective,” adds Polykrati. “At the same time, organisations should pay attention to unusually high turnover in key finance positions. Frequent changes of CFO, treasurer or other senior finance leaders may indicate deeper organisational, strategic or governance issues that deserve closer examination.”
Appointing an interim CFO can be a practical solution, particularly when dealing with unexpected or sudden departures or when additional time is needed to identify the right successor, says Adelin Choy, Executive Director and Asia-Pacific Financial Officers Practice Co-Lead at Russell Reynolds Associates.
When a transition is sudden, rushing into a permanent appointment to fill the gap can lead to costly alignment issues later. The right interim CFO can provide stability, ensure continuity of operations and help maintain confidence amongst investors, employees and other stakeholders.
This approach also allows boards and CEOs to conduct a more considered search for the right successor, both internally and externally and enables the organisation to clarify the exact profile they need for the future without the pressure of an empty seat.
However, Choy acknowledges that an increase in interim CFOs appointments may also be indicative of broader human resource challenges and point to a lack of robust, proactive succession planning.
“If organisations rely on interim appointments, it may mean they do not have a ‘ready-now’ internal candidate,” she says. “Interim appointments can be a useful governance tools to manage short-term disruption but they should not replace a disciplined, standing governance practice of building a deep, resilient internal talent bench.”
