Acquisitions rarely fail in the boardroom. They falter in execution. According to McKinsey, 70% of transactions fail to deliver their intended value, and Bain notes that integration discipline is the single biggest predictor of success, more than deal logic or financial engineering.
On paper, synergies look clean. Financials align. Narratives make sense.
But in practice, post-merger integration is where expectations collide with organizational reality.
Across multiple transactions, Benoit Creneau — our CEO — has observed the same failure patterns cited by global research:
- Cultural misalignment, identified by Harvard Business Review as the top cause of PMI failure
- Conflicting expectations across shareholders, executives, and teams
- Lack of integration governance, highlighted by PwC as materially value-destructive
- Leaders stretched thin between BAU and transformation
- Loss of pace triggered by uncertainty and internal politics
These frictions act as value leakage points. And they are especially present in organizations that lack M&A experience.
Companies unfamiliar with acquisitions often:
- underestimate leadership bandwidth required,
- lack structured integration governance,
- are unprepared for cultural collision,
- assume line managers will “absorb” integration roles,
- and struggle to maintain momentum once ambiguity emerges.
The painful truth Bain reports is clear: “Buying a company is the easy part, integration is where the value is either created or destroyed.”
This is where interim leadership shifts outcomes. Unlike advisors, interim executives take operational ownership. They don’t write reports, they mobilize execution.
Their impact aligns with best-practice PMI guidance:
✔ Increase execution capacity — Deloitte cites this as a critical bottleneck in integrations
✔ Act as neutral stabilizers, reducing uncertainty — an EY-documented success factor
✔ Protect business continuity, shielding the operation from integration turbulence
✔ Translate the deal thesis into an operating model, which HBR identifies as the missing link in failed integrations
They are not replacements, they are force multipliers.
What They Really Secure: Time, Confidence, and Return
Post-acquisition value depends on three elements many organizations lack:
- Time and focus — McKinsey calls this leadership bandwidth scarcity
- Decision clarity and pace — Bain lists this as a core ROI accelerant
- Momentum — PwC names it the differentiator between integration and stagnation
Interim leaders give organizations these three assets. Their mission is not cosmetic, it is value protection and acceleration.
“After seeing this pattern again and again, cultural misalignment, unclear priorities, integration fatigue, I became convinced that many companies underestimate how fragile the first six months really are.
This is especially true for organizations not used to acquisitions. Interim leadership brings pace, neutrality, and execution discipline. It turns a deal into direction the organization can actually follow.”
— Benoit Creneau, CEO of xNorth Inc.
This field insight reflects what research confirms: Deals don’t fail because of strategy; they fail because organizations lack capacity and leadership maturity to execute. Interim executives fill that gap, not as placeholders, but as catalysts.
The Takeaway
- Post-acquisition, time is capital.
- Execution is leadership.
- Momentum is value.
And for companies without integration experience, interim leadership is not optional, it is strategic.
About xNorth
xNorth™ is a Canadian Executive Interim Management firm, part of the Valtus Alliance, the world’s largest network for executive-level interim management. Led by partners who are themselves former executives, xNorth brings practical business experience and a structured methodology to every mandate. We provide organizations with seasoned interim leaders and executives across all functions to help them navigate periods of transformation, growth, or crisis. Combining a trusted network of experienced professionals with a proven approach, xNorth delivers hands-on leadership that creates impact quickly, strengthening leadership teams and guiding businesses through their most critical challenges.
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