Global CFO appointments hit seven-year high in 2025

London, UK – February 11, 2026 – Global CFO appointments reached a seven-year high in 2025, according to global leadership advisory firm Russell Reynolds Associates’ (RRA) Global CFO Turnover Report for 2025. The figures reveal a persistent and elevated level of executive transitions driven by evolving strategic mandates, heightened external pressures, and unprecedented market volatility.

This period of intense churn saw 316 incoming CFOs globally, marking a 10% year-over-year increase, including a record 106 appointments in S&P 500 companies alone. The impact was also felt acutely in other major markets, with sustained churn leading to decreases in average CFO tenure. The UK’s FTSE 100 saw a record low average CFO tenure of just 4.95 years during 2025, down from a seven-year average of 6.8 years.

The report's data supports the idea that today's CFOs are expected to assume an outsized mandate well beyond finance, encompassing both business and technological challenges, and are increasingly relied upon as trusted partners to the CEO, board, and investors. This heightened expectation means boards are actively seeking a very specific profile, with experienced CFOs representing 43% of global appointments, the highest share in seven years, reflecting an urgent need for leaders capable of immediate impact.

Key trends from the 2025 Global CFO Turnover Report include:

• Elevated global turnover: The data shows that global CFO appointments climbed to 316, 12% above the seven-year average of 281 appointments. This surge in new hires was followed by 262 global CFO departures,  well above the seven-year average of 250 exits, underscoring a period of intense volatility and transition in financial leadership.
  
  
• Ready-now experience intensifies demand: While experienced hires gained ground, first-time CFOs still accounted for a substantial 57% of global appointments. While the FTSE 100 continues to rely on first-time appointments, experienced CFO appointments rose to 48%, above the seven-year average of 42%, indicating a strong emphasis on immediate readiness across major markets.
  
  
• Retirement driving departures: Retirement remained the dominant factor in CFO departures in 2025, accounting for 60% of all CFO exits, a notable increase from 55% in 2024 and significantly higher than the long-term average of 43% since 2019. In the FTSE 100 alone, 12 CFOs retired, making up 57% of departures in that market.
  
  
• Mixed progress in gender diversity: Globally, women accounted for 21% of incoming CFO appointments in 2025, a decrease from 26% in 2024. However, in absolute terms, 67 women CFOs were appointed versus 54 departures, resulting in a net increase of women in the CFO role overall. Notably, in the FTSE 100, women represented a stronger 35% of incoming CFO appointments, well above the global average, with 8 appointments compared to just 2 departures.
  
  
• Role fatigue and CEO turnover contribute to churn: Beyond retirement, CFOs are facing growing pressures from investor activism, sustained volatility and transformation demands, all contributing to role fatigue. Furthermore, record levels of CEO turnover in 2025 often trigger secondary CFO movements, as new CEOs reshape their leadership teams. CFOs also remain highly sought after for CEO and other broader enterprise roles.

A comparative analysis between the S&P 500 and the FTSE 100 reveals both shared challenges and distinct dynamics. For instance, 57% of S&P 500’s CFO appointments were internal promotions, whereas the FTSE 100, while experiencing higher churn and shorter average tenure, looked to external talent more often, with nearly half (48%) of new CFOs coming from outside organisations. Retirement drove a significant proportion of S&P 500 exits at 63%, mirroring the rate of nearly one in six (57%) seen in the FTSE 100. A striking divergence emerged in gender diversity: the S&P 500 saw 15% of incoming CFOs being women, in contrast to the strong representation in the FTSE 100 with women occupying over a third (35%) of new CFO posts, though both indices ultimately recorded a net increase in women in the role.

“Shortened CFO tenures in the FTSE 100 are symptomatic of ongoing economic uncertainty, shareholder pressure on value creation, and heightened activist scrutiny, paired with an expanding mandate that can be hard to sustain in the long term,” commented Ben Jones, Co-Head of the UK Board and European CFO Practice at Russell Reynolds Associates. “With this, we’re seeing a two-speed pattern: some CFOs are retiring from company life earlier, while others stay in the market, but cycle through roles for shorter periods,” Jones added.

In response to these trends, RRA advises CEOs and boards to adopt a standing governance discipline for CFO succession planning. Recommendations include starting when a new CFO is appointed, proactively refreshing the CFO success profile, building robust "ready-now" and "ready-soon" bench strength, and de-risking handovers with structured transition support.

Jim McGlone, Russell Reynolds Associates’ UK Financial Officers Practice Lead emphasised, “The imperative is clear: CFO succession must be a continuous strategic exercise, not a reactive measure that begins when a departure becomes imminent. By anticipating transitions, investing in talent development, and aligning leadership profiles with evolving strategic needs, organisations can minimise disruption and ensure consistent, high-impact financial leadership."

Notes to the Editor

Russell Reynolds Associates’ Global Index of CFO Turnover tracks CFO departures from constituent companies of the following global stock indices: ASX 200, CAC 40, DAX, Euronext 100, FTSE 100, FTSE 250, HANG SENG, Nikkei 225, NSE Nifty 50, S&P 500, S&P/TSX Composite and STI. More data and analysis can be found at the dedicated Global Index of CFO Turnover section of the Russell Reynolds website at: https://www.russellreynolds.com/en/insights/reports-surveys/global-cfo-turnover-index

Classification of the reasons for CFO departures is derived from a comprehensive review of publicly available information, including news publications, official announcements, and relevant articles around the time of each CFO’s departure announcement. This categorization is intended to provide insight into overarching trends and should be interpreted within the context of the best available information at the time of the analysis.

Media Contacts

Russell Reynolds Associates  
Sarah Carlyle, Marketing Director EMEA  
Email: sarah.carlyle@russellreynolds.com