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Global CHRO Turnover Index

We share the latest CHRO turnover data across listed companies globally. Each quarter, you’ll find the latest data on CHRO departures and appointments, as well as trends on gender diversity, tenure, and internal / external appointments.
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Incoming CHROs: Gender
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Global (All Companies) S&P 500 FTSE 100 ASX 200 CAC 40 DAX 40 EuroNext 100 FTSE 250 HANG SENG Nikkei 225 NSE Nifty 50 S&P/TSX Composite STI
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Global (All Companies) S&P 500 FTSE 100 ASX 200 CAC 40 DAX 40 EuroNext 100 FTSE 250 HANG SENG Nikkei 225 NSE Nifty 50 S&P/TSX Composite STI
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Global (All Companies) S&P 500 FTSE 100 ASX 200 CAC 40 DAX 40 EuroNext 100 FTSE 250 HANG SENG Nikkei 225 NSE Nifty 50 S&P/TSX Composite STI
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Global (All Companies)  S&P 500   FTSE 100   ASX 200   CAC 40   DAX 40   EuroNext 100   FTSE 250   HANG SENG   Nikkei 225   NSE Nifty 50   S&P/TSX Composite   STI  
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Outgoing CHROs
Outgoing CHROs: Gender
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Global CHRO Turnover Index Q4 2024: Key Trends

 

01

CHRO turnover rebounds

CHRO turnover at the world’s largest public companies surged 35% in Q4 2024, reaching its highest fourth-quarter level since 2019—and marking a sharp reversal from 2024’s previously low rate of CHRO churn. Overall, 43 CHROs were appointed in Q4 2024.

 

Our latest finding suggests a renewed interest in CHRO moves as organizations gain more clarity on their strategic direction heading into 2025. We see organizations actively seeking leaders with the expertise to drive ambitious workforce transformation strategies, reflecting CHROs’ increasingly pivotal roles in shaping organizational strategy and success.

 

 

02

Internal mobility surges

Internal CHRO promotions dominated Q4 2024, accounting for 69% of hires across the companies we analyzed. This marks a significant shift from the external hiring preference that defined the first three quarters of the year. By year-end, the internal-external hiring ratio balanced to nearly 50-50, revealing a strategic pivot in how companies are approaching CHRO succession.

 

This shift suggests that in turbulent times companies may favour stability over reinvention, prioritizing institutional knowledge and cultural fit. A safer bet may be a leader who knows the organization inside and out, rather than an external hire who may bring fresh ideas but pose a cultural risk. However, this trend also raises a key question: are companies assessing internal talent with the same rigor as external candidates, or simply opting for the familiar? Having a nuanced understanding of every individual leader’s capabilities – spanning their leadership potential, behavioural tendencies, and ability to adapt to organizational needs - is important when assessing their overall fit into an organization.

 

 

03

First-time CHROs take center stage

In Q4 2024, 62% of CHRO appointments were first-time CHROs, reinforcing a year-long pattern of organizations placing a greater emphasis on potential and strategic capability over tenure and experience. By the close of 2024, 54% of all incoming CHROs globally were first-time leaders in the role, compared to 52%% in 2023.

 

Rather than defaulting to seasoned CHROs, companies are placing big bets on high-potential HR executives, recognizing that agility, adaptability, and business acumen are key differentiators for success.

 

This trend highlights the growing importance of internal HR leadership development programs and succession planning, as businesses look inward to build future-ready HR leaders who can navigate workforce transformation, governance, and corporate strategy.

 

 

04

CHRO remits expand—but at different paces

The trend towards broad CHRO remits continues, but the pace of this evolution differs by industry. In the financial services space, only 11% of incoming CHROs involved expanded remits, trailing behind industrial and natural resources (22%), healthcare (19%), technology (15%), and consumer (14%) industries. Unlike the other sectors, financial services organizations remain rooted in specialized leadership models where risk, compliance, and corporate affairs are siloed under separate executives and tend to not delineate. But as other industries push the boundaries of CHRO leadership, financial services firms would be prudent to assess whether their existing approach is fit for purpose in a fast-changing world.

 

 

What is CHRO turnover?

CHRO turnover refers to the rate at which Chief Human Resources Officers leave their roles and are replaced within organizations. It reflects leadership stability and can indicate broad trends in HR leadership. The CHRO Turnover captures data from the following global stock indices: ASX 200, CAC 40, DAX 40, Euronext 100, FTSE100, FTSE 250, HANG SENG, Nikkei 225, NSE Nifty 50, S&P 500, S&P/TSX Composite, and STI.

How has CHRO turnover changed for public companies?

CHRO turnover has remained steady, but the approach has evolved. There is now a growing preference for external hires to bring in fresh perspectives. As a result, firms are increasingly seeking more experienced individuals who have navigated complex environments to help address their own challenges. While there’s still openness for first-time CHROs, this trend may be shifting as organizations prioritize seasoned leadership in the current climate.

Why is CHRO turnover so high for public firms globally?

CHRO turnover is high in public firms globally due to multiple factors. While workforce and global pressures can contribute to a need for leadership change, a significant driver is the turnover of CEOs.

The CHRO is often consideredthe CEO’s close confidant, so changes in turnover in top seat are likely tohave a knock-on effect on the CHRO.‍

How many CHROs were appointed globally in 2023 at public companies?

In 2023, 179 CHROs were appointed to the top HR role at public companies globally, closely mirroring the 178 CEO changes within the same period.

Notably, some organizations may not have previously had a dedicated CHRO, while others experience more than one CHRO change within the year. A more robust assessment and succession planning process could have contributed to greater stability in these roles.

How many CHROs of public companies stepped down in 2023?

In 2023, a total of 174 CHROs stepped down from their roles at public companies globally, with a notable 59 departures from S&P 500 organizations, 17 from the ASX, and 8 from the FTSE 100. Since Q1 2023, 72% of the outbound FTSE 100 CHROs who joined boards are women, with these boards averaging 41% diversity, compared to 28% for those with CHROs who are men.

What is the proportion of women CHRO appointments at public firms in 2023?

In 2023, women made up 61% of all CHRO appointments at public firms globally. Historically, from 2018 to 2024, the average proportion of female CHRO appointments has been 67%.

What proportion of new CHROs of public companies were first-time CHROs?

In 2023, 53% of new CHRO appointments at public companies were first-time CHROs. Historically, from 2018 to 2024, the average proportion of first-time CHROs has been 57%.

What’s the average tenure of CHROs at publicly listed companies?

The average tenure of CHROs at publicly listed companies is 4.2 years, with a range spanning from 0.8 to 17.3 years.

 

Disclosures

The CHRO Turnover index is based on the most current and reliable information, focusing on HR Executives who hold the top HR position within their organizations. As executive roles and reporting practices are dynamic, some changes may not be immediately reflected, and figures may adjust quarterly as new appointments are retroactively announced.

Data Source

The data presented in this report was built through human-forward research and mapping to pinpoint individuals who hold top-level HR roles within organizations globally.

Time Frame

The analysis covers CHRO turnover and appointments from Q1 2018 to Q3 2024. Specific focus points have been highlighted for trends observed in Q3 2024.

Data Accuracy

While every effort has been made to ensure the accuracy of the data, it is based on available information at the time of reporting and may be subject to updates as new information becomes available. This includes leveraging data on individuals who are VPs, HR, and SVPs, HR, who serve as the top-level HR role within their organizations but may not necessarily be labeled as a CHRO. We aim to be inclusive in our approach and encapsulated all the publicly available data. There may have been interim placements or appointments that did not work out, resulting in the same organizations experiencing multiple CHRO movements within a 1-2 year span. Therefore, while the movement tracks all changes within an index, a single move does not always equate to one company, as a single company may have various CHROs over a short time span for different reasons.

Use of Data

This report is intended for informational purposes only and should not be used as the sole basis for any business or strategic decisions. It is recommended to consult with professional advisors for tailored advice and analysis.

 

 

Global CHRO advisory leaders

 

Our global Human Resources Officers team provides strategic insights and guidance to tackle your most complex HR leadership challenges. We work with you to create tailored solutions that strengthen your organization’s leadership and drive impactful change.

 

Jason Kipkala is a member of Russell Reynolds Associates' Global Legal, Risk, & Compliance Officers and Human Resources Officers Knowledge teams. He is based in Toronto

 

 

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