Good morning. Globally, CFO hiring is starting to cool. But CFO retirement is fueling turnover.
Those are some of the latest findings of leadership advisory firm Russell Reynolds Associates’ (RRA) Q1 2026 Global CFO Turnover Index. Based on moves in the S&P 500, FTSE 100, FTSE 250 and other major stock indexes, global CFO appointments dipped slightly to 4.9% in Q1 2026 from a record 5.2% in Q1 2025.
That equates to 89 CFOs being appointed globally in Q1 2026, down from 95 the same time the year prior. This marks the first Q1 year-over-year decline in CFO appointments since 2022, according to RRA. While CFO hiring activity cools, it remains high by historical standards, sitting above the seven-year Q1 average of 4.4% (82).
But looking specifically at U.S. companies, the S&P 500 remained particularly active, with appointments reaching 6.6% (33) on par with Q1 2025 record levels, the research found.
Finance chiefs are increasingly retiring—a major factor in CFO exits. Globally, 60% of outgoing CFOs retired or moved to the board in Q1, up from 56% the same time last year and well above the seven-year Q1 average of 39%.
