CFO retirements during first half of 2026 hit 8-year high: Russell Reynolds

Dive Brief:

The share of CFOs worldwide leaving a public company or stepping down to take a seat on the company’s board hit 60% in 2026, an increase from 56% during the same period last year and far above the eight-year average of 41%, according to the H1 2026 Global CFO Turnover Index from Russell Reynolds Associates, a management consulting firm.
At the same time, the share of first-time CFOs taking the top finance post ticked up to comprise 64% new appointments among the companies tracked in the first half of this year, compared to 60% during the same period last year, Russell Reynolds said. Technology companies showed the highest preference for experienced candidates, with 56% of their appointments being seasoned executives.
“The rising proportion of retirement-driven departures may be reducing the available pool of active, experienced CFOs, encouraging organizations to consider a broader range of first-time candidates,” the report states.

Dive Insight:

The rise in CFO retirements is expected but notable in its scale, according to Russell Reynolds. The increase coincides with a decline in the labor force participation rate for U.S. civilians 55 or older to 36.9% last month from 38.1% a year earlier. The shift is part of a “historic exit from the American labor market,” RSM U.S. Chief Economist Joe Brusuelas said Monday in a report.

Companies of all sizes have recently shaken up finance leadership. Former Waste Management CFO Devina Rankin stepped down last year from her post. Also, ConocoPhillips CFO Ryan Lance recently announced plans to hand over the finance reins and serve as executive chair of the board of directors in a “transitional role” after 40 years at the oil company.

The CFOs are retiring after several years in the role, with the average length of service for those retiring 6.3 years, according to Russell Reynolds. “This suggests that a significant cohort of long-serving finance leaders may be reaching a natural transition point at the same time,” Russell Reynolds said.

The turnover rate overall of CFOs is also rising. During the first half of 2026 11% of companies represented in global public indices hired new CFOs, up from 10% in the year-earlier period.

Not all industries saw the same level of leadership churn. New appointments declined in the technology sector to 8% during the first half of this year compared to 10% during the first half of 2025. High, AI-driven valuations may partly explain the greater stability.

“Strong performance across semiconductors, data centers, and other AI infrastructure businesses may be encouraging incumbent CFOs to remain in their roles, particularly where share-price appreciation has increased the value of their long-term incentives,” the report states.