CFO Slice

Chief financial officer turnover reached a seven-year high in 2025, with 316 global appointments across 13 major stock indexes - a 10% increase from the prior year - according to data from Russell Reynolds Associates. While retirements accounted for 60% of departures, burnout and role fatigue are increasingly driving finance chiefs to step down. Expanding responsibilities - including capital allocation, investor relations, enterprise risk management and activist engagement - have made the CFO role more demanding than ever. Many seasoned executives are opting for board roles, advisory positions or private equity opportunities that offer greater flexibility. CEO turnover has also fueled CFO changes. More than half of companies that appoint a new CEO replace their CFO within 18 months, often due to leadership alignment rather than performance issues. Boards are responding by favoring experienced hires: 43% of CFO appointments in 2025 involved seasoned finance chiefs, up from 40% the previous year. Companies facing heightened external pressure are more likely to recruit externally, though outside hires tend to have shorter tenures than internally promoted CFOs.