Russell Reynolds Associates: The CFO Exodus: Exploring Financial Officer Turnover in Europe
As European organizations grapple with current macroeconomic shifts and witness a four-year high in CFO executive retirements, Russell Reynolds Associates delved into the latest trends in CFO turnover within an increasingly competitive market.
Rising CFO turnover offers opportunities for emerging finance talent, with experienced CFOs in high demand amid Europe's economic challenges.
Their analysis of 660 European organizations from 2020 to September 2023 revealed several key findings:
- 61% of newly appointed CFOs are in the role for the first time.
- To combat the internal talent shortage, 52% of women CFOs are now recruited from existing CFOs.
- CFO turnover is on the rise across various indices, reaching a four-year high in the FTSE 350, DAX, and Euronext 100.