CXO and executive search run as a mapped search, not a database pull.
A leadership seat left open drifts a whole function, and the profiles that arrive unsolicited are rarely the ones you want. CXO executive search is worth paying for only when the process is a market map rather than a CV forward. Godstone Consultech runs retained searches for CEO, CFO, COO, CHRO and plant-head roles: a written market map, discreet approaches to people who are not looking, competency interviews against your framework and deep referencing — so the board chooses between evidence, not impressions.
Role, reporting line, CTC band and confidentiality needs are enough to start.
CEO, CXO and key managerial appointments.
Board-level hiring is judgement work at both ends. We map the market for the role, approach discreetly, interview against a competency framework agreed with you, and reference deeply before a shortlist is presented.
- ✓CEO, managing director and business-unit heads
- ✓CFO, COO, CHRO and CTO mandates
- ✓Company secretary and other key managerial personnel
- ✓Family-business professionalisation hires
- ✓Succession mapping and confidential replacements
Leadership mis-hires are the most expensive hires
The cost is not the fee; it is two years of a function pointed the wrong way.
A shortlist assembled from an active-candidate database misses everyone who is performing and not looking — which is usually the person you want.
A wrong leadership hire resets strategy, drives attrition below them, and takes six months to recognise and six more to correct.
A written market map, discreet approaches to passive candidates, competency interviews against your framework, deep referencing, and off-limits terms in writing.
Discuss a mandate →
Search, assessment and terms
For budgeting only: the slider shows the monthly payroll cost of the mandates if the leaders were engaged on a fixed-term contract through a staffing payroll — an assumed ₹1.8 lakh gross a month, statutory costs and an illustrative 12% fee. A retained search fee is a separate, one-time cost; see the fee table below.
A retained search follows a fixed sequence, with a written deliverable at each stage.
What retained executive search costs in India
CXO searches are almost always retained: you pay for the search itself, in stages, rather than only for a hire. Published market ranges for retained search in India run from about 20% to 33% of the executive's first-year fixed CTC, plus GST — boutique firms toward the lower end, global firms toward the top.
| Instalment | When it is invoiced | Typical share | What you should have received |
|---|---|---|---|
| Retainer 1 | On signing the mandate | One third of the estimated fee | Agreed position specification, search strategy and target-company list |
| Retainer 2 | On presentation of the shortlist, or after a fixed period | One third | Market map, shortlist of three to five with assessment notes |
| Final instalment | On offer acceptance or joining | Balance, trued up to the actual first-year CTC | Referenced, checked candidate who has accepted |
Market practice, not a quote: check whether the fee is on fixed or total CTC, whether a minimum fee applies, how search expenses are billed, and what happens to paid instalments if you cancel or hire an internal candidate. GST at 18% applies. For senior roles below the board, see leadership hiring; for fee models generally, see staffing agency fees in India.
A CXO search, week by week
Most CXO searches take three to four months from brief to accepted offer, and the notice period comes on top. This is the sequence and the deliverable at each step.
Brief and position specification
Meetings with the promoter, board or CEO; a written specification covering the mandate, success measures, reporting line and pay range.
Market map and approach
Target companies, named individuals and a discreet first conversation — the client is not named until interest is real.
Assessment
Competency interviews, a business-case discussion and early referencing on the strongest candidates.
Shortlist and client interviews
Three to five candidates with written assessments; interview rounds with the board, promoter or CEO.
Offer and close
Deep references, background and directorship checks, pay negotiation and resignation support.
Notice and onboarding
CXO notice periods are long; we stay in contact through the notice, then check in at 30, 60 and 90 days.
Legal and board rules that shape a CXO hire in India
For many companies, a CEO, CFO or company secretary is not just a hire but a statutory appointment with deadlines. Plan the search around these.
Key managerial personnel
Under section 203 of the Companies Act, 2013, listed companies and prescribed public companies must have a whole-time MD/CEO or manager, company secretary and CFO. A KMP vacancy must be filled by the board within six months.
Nomination and remuneration committee
Where section 178 applies, the NRC identifies people qualified for senior management, recommends their appointment to the board and frames the remuneration policy. Build its meetings into the search calendar.
Three-month deadline for listed entities
SEBI LODR Regulation 26A requires a listed entity to fill a vacancy in the office of CEO, MD, whole-time director, manager or CFO within three months, or six months where a regulator's approval is needed.
Disclosure on appointment
Listed entities disclose appointments of key managerial personnel and senior management to the stock exchanges under Regulation 30, so the offer, the board resolution and the announcement need to be sequenced.
Regulator approval in some sectors
Banks, insurers and some other regulated entities need regulatory approval for the MD/CEO and certain other roles. The search must produce candidates who will clear a fit-and-proper review.
Confidential replacements
Replacing a sitting executive needs a search that never names the client until a candidate is committed, and careful handling of what the market will read into an approach.
What a CXO market map should contain
The market map is the evidence that a search actually covered the market. Ask to see it before the shortlist, not after.
- ✓Target companies agreed with you, and the reason each is on the list
- ✓Named leaders in each, with role, tenure and scope
- ✓Who was approached, who responded and who declined — and why
- ✓Pay benchmarks for the role from the conversations held
- ✓A view on internal candidates, benchmarked against the market
- ✓A diverse slate, including candidates from adjacent industries
Need the map without a live search — for succession planning or a board discussion? See talent mapping services.
CXO and executive search FAQs
Fees, timelines, confidentiality and the governance rules that affect a CXO hire.
Discuss a mandate →How does executive search differ from recruitment?+
Recruitment works the active market; search maps the whole relevant pool and approaches people who are not looking. For leadership roles the person you want is usually performing somewhere and not on a portal.
What does executive search cost?+
Retained CXO search in India is commonly priced at about 20–33% of the executive's first-year fixed CTC, plus GST, invoiced in three stages — on signing, on shortlist and on acceptance — with the terms agreed before the search starts. Senior roles below the board are often run on 12–20% as leadership hiring.
How long does a leadership search take?+
Twelve to sixteen weeks from brief to accepted offer for most CXO mandates, driven by market depth, confidentiality and board availability, plus the candidate's notice period — often 60 to 90 days or more at this level.
Is the process confidential?+
Yes. Approaches are made without naming the client until interest is validated, and the mandate is handled by a named consultant with a limited internal team.
Do you offer a guarantee on leadership hires?+
Yes: a replacement search if the hire exits within an agreed period after joining, with the period and conditions set out in your contract. Off-limits and no-poach terms are written into the agreement too.
Do listed companies have a deadline to fill a CEO or CFO vacancy?+
Yes. Under SEBI LODR Regulation 26A, a listed entity must fill a vacancy in the office of CEO, MD, whole-time director, manager or CFO within three months of the vacancy, extended to six months where approval of a regulatory, statutory or government authority is needed. Separately, section 203 of the Companies Act gives the board six months to fill a KMP vacancy.
What happens to the fee if we cancel the search or hire internally?+
Retainers already invoiced are normally kept, because they pay for work done — the specification, the market map and the approaches. The final instalment is due only if a candidate from the search is hired. These terms should be written into the mandate before it starts.
Should we run an internal candidate alongside the search?+
Often, yes. Benchmarking an internal candidate against the external market gives the board a defensible decision either way. Tell us at the start so the internal candidate is assessed on the same criteria, discreetly.
A leadership seat to fill quietly?
Send the role, reporting line and timing. A search consultant aims to come back within one working day with an approach and staged fees.