CFO exit rates climb to six-year peak
Chief financial officers are exiting their roles at the fastest pace in six years, according to data reported by The Times. The rise in turnover spans major listed companies in both the UK and US, and signals a growing unease within the C-suite as executives confront a perfect storm of economic and operational challenges.
In 2024, more than 15% of CFOs at companies on indices such as the S&P 500 and FTSE 250 stepped down—marking the highest rate of change since 2018. While the reasons vary, the data points to a mix of structural and personal factors driving the exits.
Among the departing CFOs, more than half retired or moved into board positions, while over a third transitioned into CEO or president roles.
Notably, the average retirement age has declined to 56.6 years, and average tenure now stands at just under six years, underscoring both the intensity and volatility of the role.
The CFO’s remit has expanded significantly in recent years, now encompassing not only financial stewardship but also investor relations, cybersecurity oversight, ESG reporting, supply chain resilience, and—increasingly—AI integration.
These broader responsibilities have led to increased scrutiny from stakeholders and a growing pressure to deliver clarity in an uncertain macroeconomic environment.
The spike in turnover is not limited to finance chiefs. CEOs also exited their positions at companies across the globe in 2024, often citing economic volatility, activist investor pressure, and burnout as contributing factors.
The figures reflect a broader recalibration underway in boardrooms. With inflation still weighing on input costs, supply chains under strain, and investor demands intensifying, the CFO role has become a pressure point for transformation—and, in many cases, a pivot point for leadership change.