CFO Turnover Index: Q1-Q3 2024 FTSE 100 By the Numbers
As FTSE 100 CFO turnover remains elevated compared to historical norms, we highlight the key numbers defining the trends.
CFO turnover FTSE100 by the numbers
Trending CFO Turnover
Trending CFO Turnover: Q1-Q3, 2019-2024
FTSE 100 CFO turnover has reached 21% in Q1-Q3 2024. While slightly lower than 2023, turnover is still significantly higher than in previous softer years, with 21 new CFOs appointed. This is primarily driven by a spike in turnover in the financial services sector.
First-time vs. Experienced hires
First-time vs. Experienced hires: Q1-Q3 2024
Internal vs. External
Trending Internal vs. External Appointments: Q1-Q3, 2019 – 2024
The number of organizations looking externally for experienced CFOs has increased year-over-year, and has more than doubled since 2019 to 43%. In a market where economic uncertainty has become the norm, organizations are increasingly prioritizing CFOs with proven experience.
Gender
23
%
of FTSE 100 CFOs are women
and the FTSE 100 is 11 years away from reaching gender parity
In the first three quarters of 2024, 29% of FTSE 100 CFO appointments were women, the lowest percentage of women CFO appointments since 2020. While diverse internal pipelines have come to fruition in the past few years, organizations should remain vigilant in developing the next generation of top women finance talent.
Outgoing CFOs
Departing CFOs by Exit Type: Q1-Q3 2024
Number of departing CFOs per new role: Q1-Q3 2024
FTSE 100 2024 retirement rates decreased by 14 percentage points compared to 2023 as demand for experienced CFOs increases and transitioning CFOs continue to move into the President/CEO role.
Source: RRA analysis of the FTSE 100 from 2020 to the end of Q3 2024; Note: 4 of the new CFOs are interim
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