Number of women CEOs in FTSE 100 at same level as 4 years ago amidst record global CEO turnover

• In 2025, the FTSE 100 had the same number of women CEOs as in 2021. In 2020, there were only five women leading FTSE 100 companies, the same number as in 2010, demonstrating slow progress
• With three incoming and three departing women CEOs in 2025, there was zero net change in women leadership in the FTSE 100 last year
• Global CEO turnover surged to an all-time high; the FTSE 100 has seen departure rates trend above the 8-year average

London, UK, 28 January 2026 – Women remain significantly underrepresented at the top of the UK’s largest listed companies. Global leadership advisory Russell Reynolds Associates’ (RRA) Global CEO Turnover Report 2025 highlights a stark paradox.

In 2025, the FTSE 100’s departure rates climb above the eight-year average, with 14 CEOs departing from their roles. Only three women CEOs were appointed, yet three departed, showing little progress in representation. Globally, the share of incoming women CEOs fell to just 9%.

Despite record global CEO turnover in 2025, research showed that the FTSE 100 ended the year with just eight women CEOs – the same figure recorded in 2021. Research also found that the years of 2010 and 2020 saw the same number of women CEOs in the FTSE 100 – a mere five.

The annual Turnover Report paints a picture of intense executive churn globally, with 234 outgoing leaders in 2025 – a 16% year-on-year increase and 21% above the eight-year average. This high turnover reflects escalating public scrutiny, complex geopolitical factors, and intensifying demands on leaders.

Shortened tenures signal intensified pressure

The escalating pressures are reflected in contracting CEO tenures. The data shows 11 CEO appointments globally in 2025 lasted less than a year, suggesting a growing demand from boards and investors for immediate results.

Globally, the average CEO tenure in 2025 dropped to 7.1 years, an eight-year low mirroring pre-pandemic 2019 levels. In the FTSE 100, average tenure was even shorter at 6.4 years, nearly a year and a half less than the 2018 peak.

“Historically, the first couple of years of a CEO’s tenure were about clarifying the mandate, setting direction, and building alignment. That grace period has been severely compressed,” said Laura Sanderson, EMEAI Co-Lead at Russell Reynolds Associates. “Today, CEOs are expected to demonstrate momentum almost immediately, even while they are still building their teams and navigating increasingly complex external demands.”

Strategic succession and untapped leadership potential

Amidst this volatility, proactive and unbiased succession planning is more critical than ever. In 2025, the FTSE 100 saw a record proportion of internal CEO appointments and first-time leaders, with nine out of 10 CEOs appointed internally and all of them being first time CEOs.  Elsewhere, the S&P 500 saw 70% of new CEOs appointed internally, and 79% were first timers.

Robust internal talent pipelines coupled with sufficient development and assessment opportunities help businesses and Boards unlock the value of future leadership potential. The value of this is increasingly recognised by stakeholders who continue to invest in internal candidates’ development.

Across the board, there are oftentimes not enough women in internal pipelines for the CEO role, due to myriad factors including a lack of profit and loss (P&L) experience, or a perceived lack of appetite for the role.  As such, by providing all prospective C-suite candidates with robust developmental experiences, including P&L responsibility, and initiating succession planning five years in advance, organizations can ensure they cultivate the best and most diverse talent for the challenges ahead.

“Boards are now increasingly selecting internal candidates over proven CEOs because they know they are being well prepared, developed, and set up for success,” said Emma Combe, Board and CEO Practice Leader, UK, at Russell Reynolds Associates. “In doing so, boards must work to increase the odds of the new CEO’s success by ensuring they receive targeted developmental support both before and after their appointment as CEO, and are well-positioned to develop a strong leadership team around them.”

Notes to the Editor

Russell Reynolds Associates’ Global Index of CEO Turnover tracks CEO 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, STI and SMI. More data and analysis can be found at the dedicated Global Index of CEO Turnover section of the Russell Reynolds website at: https://www.russellreynolds.com/en/insights/reports-surveys/global-ceo-turnover-index

Media Contacts

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