Inheriting a Finance Team: A Field Guide for Interim CFOs

When an interim CFO steps in, it’s often during a time of disruption. Whether the previous leader left unexpectedly, was removed, or simply moved on, the team that remains is adjusting to uncertainty. They’re tired, unsettled, and quietly wondering, “Now what?”

That’s where we come in.

An interim CFO isn’t just a placeholder. We’re the First Pancake.  We are the imperfect test run that helps set the temperature for what’s next.¹ And, while we may not be the final leader the team will follow, how we lead during this in-between time has lasting impact on the team’s performance, the organization’s stability, and the success of the incoming CFO.

This post offers a personal framework for leading well during the transitional period, from assessing team dynamics to leaving a clean runway for the next finance leader.

Start with Curiosity, Not Conclusions

Walking into a new finance department, it’s tempting to look for what’s broken. But good interim leaders know that curiosity is more powerful than judgment.

“Why” is my favorite word. “How” is a close second. My first weeks are filled with questions like:

• Why do we do this?
• What is this supposed to achieve?
• What would happen if we stopped doing it?
• How does this connect to other teams or departments?

I let the team know early that when I go quiet or sound monotone, I’m “processing.” It’s my brain sorting, not frustration or judgment. I even give them permission to ask, “Are you processing or pissed?” Transparency like this creates psychological safety, and that’s critical in a team navigating change.

Evaluate People, Not Just Positions

You don’t just inherit job titles and org charts. You inherit relationships, habits, blind spots, and scars. To evaluate the team fairly, I start by meeting with them as a group, so they all hear the same words, same tone. Then I hold one-on-ones where I ask questions like:

• What type of work lights you up?
• How do you like to be managed?
• What’s working well here? What isn’t?
• What’s one thing you’d like to change before the new CFO arrives?
• What should I know about you to lead you well?

I don’t ask for the CEO’s opinions in advance. I want unfiltered impressions, without bias.

Throughout my engagement, I observe how team members interact, how they respond to feedback, who engages, who withdraws, how others treat them, and how they treat others. I also validate my observations with HR and other leaders to avoid misinterpreting organizational norms.

I never assume that just because someone has been around a long time, they’ve earned universal trust or are still the right fit. Tenure can mask deeper issues, just as silence can hide untapped potential. Some of the most insightful team members are the quiet ones, and they’re often waiting for the right environment to share what they really see.

Lead With Empathy, Even When Change Is Needed

Some team members may be grieving a beloved leader. Others may be relieved a change happened. Either way, the department is in transition.

I name that reality in early meetings:
“You’re not just adjusting to me. You’re in between two leaders, and that’s hard.”

Then I frame the opportunity:
“We have a window to fix what isn’t working and highlight what is before the new CFO arrives.”

Even when I know a structural or personnel change is necessary, I take the time to coach, set expectations, and give feedback. When someone can’t meet the bar, I handle it decisively and respectfully, so the incoming CFO inherits a cleaner team environment.

Be the Bridge, Not the Bottleneck

I view interim CFO roles through a dual lens:

1. Keep the business running smoothly.
2. Set up the next CFO for success.

That means I:

• Document every change and the rationale behind it
• Create onboarding notes to shorten the ramp-up for my successor
• Identify which decisions need their input and which were handled
• Provide the CEO with an honest view of the finance team’s strengths and gaps

I also act as a thought partner to the CEO to clarify what kind of CFO will thrive long-term, both in terms of skills and leadership style. It’s not about replacing a person. It’s about realigning the role for where the business is headed.

Close With Gratitude and Clarity

When it’s time to exit, I don’t disappear quietly. I take time to say goodbye, both in writing and in person. I thank the team for their effort, their honesty, and their resilience. I share something I learned from each of them. And I remind them:

“You’re not defined by what led to my arrival. You’re defined by how you showed up when it counted, in the middle.”

I also reach out to senior leaders with similar messages, leaving relationships strong and bridges intact.

Final Thought: What an Interim CFO Really Does

When a CEO says, “We just need someone to hold down the fort,” I have a simple answer:

That mindset is what got you here. I’m not here to paddle the boat faster while it’s taking on water. I’m here to plug the leaks, stabilize the team, and build the bridge so your next CFO can start leading on day one, not cleaning up.

I’m the first pancake.²

¹ “First pancake” is a cooking term for the imperfect first pancake made while the skillet is warming. It’s not always pretty, but it sets the tone for the rest.

² And yes, some first pancakes are quite delicious. Especially when you know what you’re doing.