Private equity firms are increasingly seeking out exceptional interim talent in the technology enabled change space, particularly CIOs, CTOs and Digital Executives, to identify problems within a business and deliver results fast, says Drax Interim Partner Stuart Jansze.
Speaking after the September meeting of Drax’s Last Thursday Club, Jansze said that talented CIOs were highly valued for their broad range of commercial and technical expertise as well as their ability to assess situations quickly.
He said: “The value of an experienced interim CIO is being able to rapidly assess a business and hone in on the issues which need addressing with laser sharp precision. CIOs today are highly commercial and able to tap into IT, operations and customer experience. This means they are able to truly get under the bonnet of a business and give a ‘warts and all’ synopsis of problems. They are real game changers.”
Further, senior interims were also liked by private equity houses because they are often able to suggest changes that a permanent executive might find hard to.
He said: “Interims have a voice that permanent executives often do not have. A permanent is mired in all of the constraints of the business such as internal politics but with an interim there comes a freedom to see the wood for the trees, to call it like it is and to do what actually needs doing. If they see something that can make a positive difference for a business they are not afraid to call the shots to make that change. People listen to what they say and they are not deemed a threat.”
Interims are also able to deliver results fast, and in a way that works. The Last Thursday Club explored the thesis that ‘Permanents do 100 day plans, interims do 10 day plans’. Private equity wants to see rapid results and senior interims are increasingly sought after because, as well as bringing years of experience and expertise to the role, they also have the emotional intelligence to deliver change within a business, Jansze said.
He added: “The best of them have a really high EQ. They are sensitive and empathetic to the culture and natural cadence of a business and able to work within that culture to bring about a positive impactful change.”
Drax holds a Last Thursday Club every month for Interims and buyers of Interims. For further information please contact Stuart Jansze on firstname.lastname@example.org.