Paris · Situation
Turnaround and restructuring in Paris
Turnaround work is where interim leadership is most obviously the right instrument. The mandate is intense, short and specific, and it frequently requires someone with no history in the business and no relationships to protect.
The first job is almost always cash visibility. The second is credibility with lenders. Everything structural comes after those two.
What this calls for
- Immediate thirteen-week cash visibility and control over outflows
- Lender and creditor negotiation with a defensible plan behind it
- Cost base restructuring, including the employment cost of doing it
- Reporting the board and the bank will believe
- A stabilisation plan with milestones somebody is accountable for
What is specific to France
- Employer contributions are largely uncapped above the plafond, so on-costs scale with executive pay rather than flattening out — the opposite of Thailand, where they are effectively nil at CFO level.
- Exiting a French executive is expensive by design: a 30% employer contribution on rupture conventionnelle indemnities, and up to twenty months of salary at the prud’hommes if it goes wrong. A prestation de services ends on notice.
- The subsidiary audit thresholds — EUR 5m revenue, EUR 2.5m balance sheet, 25 employees — pull small French entities of foreign groups into a real reporting obligation years before they have the finance team to meet it.
- The expert-comptable is the incumbent adviser and is deeply embedded — often the only external financial voice the patron has heard for a decade. A fractional DAF who arrives positioned against the expert-comptable loses. One who arrives as the person who turns the expert-comptable’s output into decisions gets in the door.
The Paris numbers
Fractional, per monthEUR 5,000–12,000 a month (USD 5,800–14,000), typically EUR 7,000–9,200 at two days a week for an expert-level DAF, with Île-de-France carrying a 10–15% premium over the rest of the country. Day rates run EUR 600–1,000 for a DAF à temps partagé. Management de transition is a different product at a different price: EUR 900–1,200 a day for a confirmed profile, EUR 1,200–1,500 senior, and EUR 1,600–1,800 in the top quartile — a six-month full-time mandate lands at EUR 110,000–200,000. Advisory-only, a board pack and a monthly call, runs EUR 1,800–3,500.
Full-time, all-inBase EUR 110,000–180,000 for a Paris DAF in a mid-market company; Île-de-France pays 10–20% above the rest of France. All-in with employer contributions, bonus, mutuelle, prévoyance and a car, EUR 175,000–290,000 a year — roughly USD 205,000–340,000. A group DAF with fifteen years behind them reaches EUR 300,000 base alone.
SeveranceIndemnité légale de licenciement, art. R1234-2: one quarter of a month per year for the first ten years, one third thereafter — modest on its own. The real exposure is elsewhere. A rupture conventionnelle carries a 30% employer contribution on the exempt portion since 1 September 2023, and the negotiated figure for a DAF is customarily several times the legal minimum. If it goes to the conseil de prud’hommes instead, the barème Macron (art. L1235-3) runs from one month at under a year of service to twenty months at thirty years — and does not apply at all where the dismissal is null, which uncaps it.