Insights
Russell Reynolds Associates: Great Expectations: Where Next for the CFO Role?
Research has found continued high turnover in the CFO role, with 2024 global CFO turnover reaching 15.1%, above the six-year average of 14.8% and markedly above the six-year average turnover rate of CEOs at 11%. As the role continues to evolve with expanding responsibilities and expectations, many experienced CFOs are considering alternative paths, including retirement, board positions, or private equity roles.
Today’s CFOs face challenges on multiple fronts—from technological transformation to regulatory complexity and increasing activist pressures. The pace of change is demanding, requiring continuous adaptation. These shifts not only create a complex landscape for seasoned CFOs. They also create a particularly demanding environment for those ascending to the CFO seat for the first time.
Examine three core themes that have emerged from this year’s research that could inform how boards look at the needs of their organization:
- The reasons for increasing CFO turnover and shorter tenures.
- The specific skills CFOs will need to succeed in the role.
- The growing importance of robust CFO succession plans.