H1 2025 CEO Turnover in APAC Only Slightly Higher than Global, with Japan and Australia Seeing Notably Higher Changes in the Region

Internal succession fuels leadership continuity in APAC

5 August 2025, Singapore – Russell Reynolds Associates (RRA) has released its Global CEO Turnover Index for the first half of the year, with APAC recording a 7% turnover rate, slightly surpassing the global average of 6%. Globally, CEO appointments reached a historic eight-year low, with 114 appointments recorded, 19% less than in H1 2024.

The Global Index of CEO Turnover tracks CEO departures from constituent companies across global stock indices, including ASX 200 (Australia), HANG SENG (Hong Kong), Nikkei 225 (Japan), NSE Nifty 50 (India) and STI (Singapore).

While many organisations across the globe are adopting a cautious approach to CEO changes due to regulatory and trade uncertainties, APAC markets are demonstrating more dynamic leadership strategies. In particular, markets such as Australia and Japan are experiencing notably higher CEO turnover, likely driven by targeted strategic shifts and business transformations unique to the local market environment. In H1 2025, Australia recorded 11 CEO departures and 23 in Japan.

Across APAC, statistics show internal succession fuels leadership continuity. Approximately 83% of new CEO appointments in APAC during H1 2025 were internal promotions, with many first-time CEOs stepping into leadership. The Chief Financial Officer (CFO) role continues to serve as a key pathway to the CEO position, accounting for around 26% of these internal successions. Furthermore, planned successions made up about one-third of CEO changes, signaling increasing maturity in leadership transitions throughout the region.

APAC Shows Moderate CEO Turnover with Japan Driving Majority of Changes

APAC recorded a 7% turnover rate with 43 CEO departures in H1 2025, representing a 9% decrease from H1 2024. Japan accounted for more than half of these departures, with 23 CEOs exiting, while the broader regional level indicates relative stability, with turnover rates of 2.4% in Hong Kong, 6% in Australia and 8% in India.

In H1 2025, global CEO tenures varied: six CEOs lasted less than 12 months, eleven lasted fewer than three years. Departure reasons included ten removals, 24  retirements, and 36 planned successions, with others leaving for new opportunities or personal reasons, highlighting the complex and varied nature of CEO turnover worldwide.

CEO Tenure and Succession Practices in Singapore and APAC

The global average tenure for outgoing CEOs declined to 6.8 years in H1 2025, down from 7.7 years in H1 2024, marking the lowest since tracking began in 2018. Today's CEOs face increasing expectations, broader responsibilities, and sustained pressure to drive transformation in an accelerating business landscape.

Singapore’s average CEO tenure remains comparatively longer at 8.8 years, exceeding the global average of 6.8 years. Furthermore, 82.5% of CEO appointments across APAC were internal promotions, reflecting robust succession planning and leadership development strategies in Singapore and the region.

“CEOs across Asia-Pacific are navigating an increasingly complex environment where delivering business results goes hand-in-hand with driving continuous innovation and transformation,” said Euan Kenworthy who leads Russell Reynolds Associates Southeast Asia operations. “This evolving leadership landscape demands agility and resilience, with varying tenure lengths reflecting how organisations balance stability with the need to adapt rapidly. Companies that prioritise strategic succession planning and invest in developing internal leadership pipelines are better positioned to sustain long-term growth amid these dynamic market conditions.”

High Internal CEO Appointments Reflect Strong Succession Planning in Singapore and APAC

Within APAC in H1 2025, 82.5% of new CEOs in the region were appointed from within the organisation, consistent with trends from H1 2024. Among these appointments, 33 were internal candidates and 7 external, with 38 men and 2 women assuming CEO roles. Notably, 36 were first-time CEOs.

This trend shows boards increasingly prioritising proactive, strategic leadership transitions that favour planned successions over reactive responses to unexpected departures.

Male CEOs continue to predominate leadership changes. Globally, 96% of departing CEOs in H1 2025 were men, and in APAC, 98% of CEO departures were men. New CEO appointments similarly are mainly men, with 104 out of 114 globally, and 38 out of 40 being men in APAC.

Media Contacts

Russell Reynolds Associates
Joann Chin, Marketing Director
Email: joann.chin@russellreynolds.com