"However, there's a dramatic swing toward internal promotions for CFOs, with external hiring of finance chiefs down almost 50%. Data from the firm's summer 2025 Volatility Report, shared with CFO Daily, which covers data from 667 Fortune 500 and S&P 500 companies, highlights this trend. Through July 31, only 28% of CFOs were hired externally-a stark contrast to last year's 10-year high, when 47% of CFO turnovers were filled by candidates from outside the organization."
""This year, we've seen the lowest level in a 10-year stretch," Perkins said. She explained that, over the past three years, roughly 65% to 75% of all CFO turnovers typically occur by midyear. Based on this pattern, external hires this year are set to come in below average unless there is a much higher number of CFO turnovers during the rest of 2025."
"The rise of specialized C-suite roles is creating fresh opportunities for internal promotion, especially as these new positions often require deep knowledge of company operations and strategy, according to Deloitte research. A recent example of an internal hire: In April, Lockheed Martin promoted Evan Scott to CFO, succeeding Jesus "Jay" Malave. Scott is a 26-year company veteran, having served as treasurer and CFO of two business areas."
The CFO market remains active while external hiring of finance chiefs declined sharply in the first half of 2025. External hires accounted for only 28% of CFO appointments through July 31, compared with 47% during last year's 10-year high. Historically, roughly 65%–75% of CFO turnovers occur by midyear, suggesting external hires will remain below average unless turnovers rise later in 2025. Specialized C-suite roles and deep operational knowledge are driving internal promotion opportunities. Examples include Lockheed Martin promoting 26-year veteran Evan Scott to CFO and Yum! Brands elevating finance chief Chris Turner to CEO. CFO-to-CEO transitions also rose to 7.5%.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]