What a permanent executive is

A permanent executive is a senior leader hired by the company for an open-ended, long-term role. They are expected to become part of the long-term leadership team. The role is built to scale with the company, not to bridge a gap.

Typical permanent C-level roles include Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chief Business Officer, Chief Commercial Officer, Chief Medical Officer, Chief Scientific Officer, Chief Technical Officer, Chief People Officer, General Manager, and Managing Director.

Contract and time structure

Permanent executives are usually employed directly by the company. Most are full-time. Part-time permanent roles exist, especially in early-stage biotech, family-owned companies, and subsidiaries where the long-term function does not yet justify a full-time hire. A permanent part-time CFO three days per week is a valid structure when the relationship is ongoing and not designed as a temporary bridge.

When to hire a permanent executive

Permanent executives are the right choice when the company needs long-term leadership, cultural integration, and continuity. Common triggers include preparation for a financing round, scaling after an investment, building or replacing a leadership team, professionalizing a function, international expansion, IPO readiness, or M&A preparation. The cost of a wrong permanent hire is high. The cost of an unfilled permanent role at the right moment is higher.

What an interim executive is

An interim executive is a senior leader brought in for a temporary period to provide immediate leadership. The purpose is usually to stabilize a function, fill a gap, manage a transition, or deliver a specific outcome.

Typical interim mandates include Interim CEO, Interim CFO, Interim COO, Interim CMO, Interim Managing Director, Interim General Manager, and Interim Transformation Lead. The defining feature is not the contract model. The defining feature is that the role is temporary.

Contract and time structure

Interim executives are often self-employed or engaged through their own limited company. They can also be employed on a fixed-term contract, seconded through an interim provider, or engaged through a consulting firm. Interim does not mean self-employed by definition. Interim means temporary.

Most interim roles are full-time or near full-time, especially in crisis, transformation, or executive vacancy situations. Part-time interim mandates exist for less acute situations: an interim CFO three days per week during a fundraising process, for example.

When to hire an interim executive

Interim executives are the right choice when there is urgency. A CFO leaves three months before a financing round. A CMO is needed during a clinical readout. A CEO is required between cycles. A subsidiary needs a Managing Director after a sudden departure. The board needs operational leadership during a restructuring. In each case, the alternative is months of decision drag while a permanent search runs. Interim is the structural answer to time-critical leadership gaps.

I place interim at C-level in six days. No other firm in Europe does this credibly.

What a fractional executive is

A fractional executive is a senior leader who works for a company on a part-time basis. The company receives executive-level expertise for a fraction of the time, cost, and commitment of a full-time hire.

Typical fractional roles include Fractional CFO, Fractional COO, Fractional CMO, Fractional CBO, Fractional Chief of Staff, and Fractional Operating Partner. The defining feature is part-time engagement.

Contract and time structure

Fractional executives are often self-employed and engaged on a monthly retainer. They can also be employed part-time, especially through holding companies, venture builders, or portfolio support structures. Common time models include one day per week, two days per week, a fixed number of days per month, or flexible support around key events such as board meetings, financing rounds, or audits.

When to hire a fractional executive

Fractional executives are the right choice when the company needs senior expertise but cannot justify a full-time hire. A seed-stage biotech needs CFO-level support for runway management and investor reporting, two days per month. A founder needs an experienced COO one day per week to professionalize operations before reaching scale. A pre-Series-B company needs a CBO to support partnering discussions before a full-time business development leader is affordable.

The risk to manage with fractional is scope: too little time, unclear authority, or the gap between strategic input and operational follow-through. The mandate must be defined precisely.

The biggest source of confusion in executive engagements is the difference between job title and legal appointment. A person may be called CEO, CFO, or Managing Director in a commercial sense. That title does not automatically make them a statutory officer of the company.

A statutory officer is formally appointed to a legally recognized corporate role. The exact form depends on jurisdiction:

• Germany and Austria: Geschäftsführer of a GmbH, Vorstand of an AG
• United Kingdom: Director of a limited company
• United States: Officer or Director of a corporation
• Europe broadly: Statutory representative of a local subsidiary

A statutory officer has legal duties that go beyond an ordinary employment or consulting relationship: fiduciary duties, duty of care, duty of loyalty, legal representation authority, tax and compliance obligations, insolvency-related duties, financial reporting duties, and potential personal liability.

his distinction matters in every executive engagement. Permanent, interim, and fractional executives can each be appointed as statutory officers, or not. The choice is a legal and governance decision, not just an operational one.

Board-level and board member are not the same thing. The distinction matters especially in cross-border engagements.

Board-level describes seniority. An executive senior enough to interact with the board, report to investors, or operate at executive committee level is board-level. A CFO can be board-level by virtue of seniority, without being a member of any board.

Board member describes a formal governance role: member of the Board of Directors in the US or UK, member of the Management Board or Supervisory Board in Germany or Austria, Executive Board Member of an AG, Non-Executive Director, or Advisory Board member. These roles carry specific governance, fiduciary, and oversight responsibilities.

Statutory officer is a third, separate concept: a person formally appointed to a legally recognized corporate office, with personal legal duties and potential liability.

The three overlap in some jurisdictions and remain separate in others. Clarifying which of the three a candidate is being hired into is essential, especially in cross-border searches between Europe, the UK, and the US.