Sixty-Nine Percent of CFOs at Fortune 100 Companies Promoted Internally
CFO Journal Cites Fortune 100 CFO Study
CFO Journal cites key statistics from our study of Fortune 100 CFOs, including commentary from Eric Rehmann, head of the Financial Officers Practice at Russell Reynolds Associates.
More than two-thirds (70%) of those promoted internally to CFO at Fortune 100 companies spent at least 11 years at the company beforehand, and 41% had put in more than 20 years, according to a study from executive recruiter Russell Reynolds & Associates.
"It's amazing how long some of these CFOs have waited for their chance," says Eric Rehmann, head of the financial officers practice at Russell Reynolds. "For these companies, there's something comforting in promoting a person who has all the internal relationships set up and can pick up the phone and know who is on the other end of the line."
All told, 69% of CFOs at the largest U.S. companies were internally promoted, rather than recruited from the outside, suggesting a deep talent bench and attention to succession planning within their finance departments.
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About Russell Reynolds Associates
Leadership for a Changing World. In today’s global business environment, success is driven by the talent, vision and leadership capabilities of senior executives.
Russell Reynolds Associates is a leading global executive search and assessment firm with more than 300 consultants based in 40 offices worldwide. Our consultants work closely with public and private organizations to assess and recruit senior executives and board members to drive long-term growth and success.
Our in-depth knowledge of major industries and our clients’ specific business challenges, combined with our understanding of who and what make an effective leader, ensures that our clients secure the best leadership teams for the ongoing success of their businesses. www.russellreynolds.com