68% of FTSE 100 CHRO appointments are women, but most are the only female voice in top leadership

• The new CHRO Turnover Index tracks appointment and departures of the world’s most influential CHROs  

• Just 25% of FTSE 100 CHROs appointed since 2018 were hired alongside women CEOs or CFOs  

• CHRO turnover reaches the lowest level for five years as CEOs look for stability to help navigate a year of elections 

August 27^th, London – CHROs are leading representation of women in the senior executive team according to Russell Reynolds Associates (RRA) but are often an isolated voice.  

The FTSE 100 has seen women appointed in 54 out of the 80 CHRO changes since 2018, representing 68% of the roles. However, only 5% of these women were appointed alongside a woman CEO and 20% alongside a woman CFO.  

The finding is part of RRA’s new Global CHRO Turnover Index which tracks the appointment and departure of CHROs in large listed companies in Australia, Canada, the EU, Hong Kong, India, Japan, Singapore, the UK and the US. 

The Index reveals, for the first time, the extent of the global trend to increase the representation of women within the CHRO role. More than two in three (61%) of new CHRO appointments in listed companies so far this year were women. In Australian listed companies, all new CHROs this year were women, while women occupied half of the new CHRO spots in the Euronext 100. In Asian indexes, however, gender parity has made lower strides, with the Nikkei 225 only appointing one woman CHRO so far this year, and six men. The Nifty 50 similarly only appointed one woman to the position, and four men.  

Globally, CHRO role has by far the highest representation of women of senior executive roles. By comparison, since 2018, 9% of CEO appointments were women, and 21% of global CFO appointments since 2019 were*. 

Anna Penfold, Consultant at Russell Reynolds Associates said:  

“It is encouraging to see more women taking on leadership roles across the world’s most powerful companies. It is a credit to the pipeline of talent the HR profession has created and a pattern we need to see replicated beyond just gender diversity.  

“However, the benefits of gender diversity also need to be felt across the entire leadership team. Too often, the CHRO is the sole woman’s voice in the senior executive team. The CHRO is an increasingly complex function and a key ally for the CEO, but we must not let progress in board diversity come purely from one profession.” 

A changing role for a changing world 

The role of the CHRO has gained an increasingly central position alongside the CEO as they look to navigate a succession of economic and political disruptions. In a first half of the year shaped by European, UK and US election campaigns, geopolitical conflict and continued cost pressures, executives have prioritised stability and experience at CHRO. 

In H1 2024, only 61 new CHROs were appointed globally – just three of which were in the FTSE 100. This is the lowest half-year appointment figure in five years.  

Of those CHROs who have been appointed this year, more than half (56%) were external or had previous CHRO experience (52%), a sharp increase from the same time last year, where a majority of CHROs appointed were first timers**.   

Anna Penfold continued:  

“Competition for the best and most experienced CHROs has increased dramatically over the last five years as cultural, political and regulatory issues have spread across the entire c-suite agenda. 

“CHROs today are a key ally for the CEO in both managing complex internal restructurings and responding to unpredictable external shocks. The chemistry between CEO and CHRO is vitally important and CHROs are often the first to depart or arrive when new CEOs are appointed.” 

_{*RRA’s Global CEO and CHRO Index quarterly figures date back to 2018, while the Global CFO Index has quarterly figures dating back to 2019.}

_{**In H1 2023, 57% of new CHRO appointments were first timers.} 

Media Contacts

Russell Reynolds Associates

Sarah Carlyle, Marketing Director EMEA

Email: sarah.carlyle@russellreynolds.com

Notes to the Editor  

Russell Reynolds Associates’ Global Index of CHRO Turnover tracks CHRO departures since 2018 from constituent companies of the following global stock indices: ASX 200, CAC 40, DAX 40, Euronext 100, FTSE 100, FTSE 250, HANG SENG, Nikkei 225, NSE Nifty 50, S&P 500, S&P/TSX Composite, and STI. More data and analysis can be found at the dedicated Global Index of CHRO Turnover section of the Russell Reynolds website at:  Global CHRO Turnover Index | Russell Reynolds Associates