If your CFO leaves while you're preparing to sell, the finance work still needs an owner. One option is to bring in a fractional CFO while you search for a permanent hire.
Make a plan before the role is empty
I once heard about a company whose CFO planned to retire. The company searched for six months but couldn't find the right person. The outgoing CFO stayed one more month. Then the company hired a fractional CFO.
The conversation was about keeping the business running while the search continued. It wasn't a rule that every company needs a fractional CFO. It was one way to cover a real gap.
Keep the job clear
An interim leader should have a clear job to do. Decide what work needs an owner, what decisions the person can make, and how long the role may last. Also plan how the work will pass to the permanent hire.
Don't assume the new person should take over every finance task. The company may need someone to lead the function, help with a set of issues, or keep work moving for a short time. The scope should fit the gap.
Plan the handoff before the sale
If you're preparing to sell, write down the finance work that must keep moving, who'll own it during the search, and when the permanent hire will take over. Settle those questions before you go to market. The business needs a named owner and a handoff date.
A fractional leader can be one part of that plan. A permanent hire may be the right answer when the company needs full-time coverage. For more on open roles, read how a leadership gap can affect the business.
If you need someone to cover a finance or operations role, find an operator who fits the work.