Definition of interim management

Interim management originated in the 1970s in the Netherlands as a means of gaining flexibility, since termination periods for employees were very long and therefore one could not react to changes in the market without incurring considerable costs. In the 1980s this model was adopted in the UK and finally transferred to Germany.

Until a few years ago interim management was strongly associated with the subject-matter of recapitalisation, since that is certainly where the concept originated. However – by now the scope of Interim Management-tasks greatly expanded.

Definition of „interim management“

Interim managers (lat.: ad interim: meanwhile, temporary) are defined as business executives in top management, who temporarily assume executive functions and who, in contrast to corporate consultants, take profit responsibility for their work. They leave the company once the problem is resolved and a stable new corporate management- or department organisation is established, or respectively after the relaunch of the respective strategic unit. (Source: Wikipedia)

The definition of interim management contains of the following aspects

• Time limitation
• Integration of an external person
• Experience as an executive
• Assignment in company
• Removal of shortage-situations
• Complete integration in business- and accountability hierarchies in the company
• Not subject to directives in procedural method concerning solving the assignment
• Managerial authority for internally subordinate colleagues

(Source: Vera Bloemer “Interim Management”)