More companies are tapping former CFOs to be the CEO
A 2024 analysis. Former CFOs started 4.93% of new CEO jobs in early 2024, up 24% on the 2018 to 2023 average of 3.97%.
More companies are tapping former CFOs to be the CEO
A 2024 analysis. Former CFOs started 4.93% of new CEO jobs in early 2024, up 24% on the 2018 to 2023 average of 3.97%.
Former CFOs started 4.93% of new CEO jobs in 2024, against an average of 3.97% from 2018 to 2023.
The share fell only once between 2018 and 2024, in 2020, to 3.49%.
At companies of 1,500 to 5,000 staff, former CFOs started 10% of new CEO jobs in early 2024.
Figure 1
Former CFOs took a larger share of new CEO jobs in early 2024
Former CFOs as a share of new CEO jobs, per cent, by start year (2024 to March)
Source: Live Data Technologies data. The newest months are still being recorded, so counts are a floor.
This is a 2024 analysis. It covers CEO jobs started to March 2024 and has not been refreshed.
Is the post-ZIRP focus on profitability driving more CFOs to the CEO seat?
The share of new CEO jobs started by former CFOs was up 24% in 2024 on the 2018 to 2023 average of 3.97%, according to Live Data Technologies data.
Figure 2
Companies of every size hired more former CFOs as CEO
Former CFOs as a share of CEOs, by company size, per cent: active CEOs in 2023 against new CEO jobs in 2024 (to March)
Source: Live Data Technologies data to 31 Mar 2024 (a 2024 analysis).
Sample
A sample of 1.3M+ current and former CEOs who were active between 2018 and February 2024.
Methodology for analysis
We sampled 1.3M+ CEOs and observed 360K+ job changes where an individual started a new role as CEO (either joining the company or being promoted internally).
For each of these CEOs, we looked at the individual's job history to see if they held a CFO job prior to starting their CEO role. We analyzed the data, looking at job start date (for the individual's most recent CEO role) and company size.
About the data
New CEO jobs, joining or promoted internally, started 2018 to 2024 by people in a sample of current and former CEOs active between 2018 and February 2024. A former CFO is someone whose job history shows a CFO job before the CEO role. 2024 runs to March 2024.
How to cite this
Alex Hamilton
Head of Insights, Live Data Technologies
Alex leads Live Data's in-house analysis of workforce trends. He studied economics and worked in economic research at the Financial Times and in insights at Dealroom.co. His analysis has been covered by The Wall Street Journal, Bloomberg and Business Insider.
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