Surge in Female CFO Appointments; Numbers Triple Since 2018

Altrata, a renowned global intelligence provider focused on influential individuals, has released a new report that offers valuable insights into the turnover trends and patterns of CEOs and CFOs. Titled "2023 Spotlight: CEO and CFO Turnover in the UK," the report specifically examines the leadership landscape within FTSE 350 companies.

Effective appointment and retention of specialized talent in leadership positions are crucial for any organization. The report, "2023 Spotlight: CEO and CFO Turnover in the UK," delves into recent appointments and analyzes trends observed over the past five years. Among the various findings, the report highlights the following:

• CEO turnover in 2022 reached its highest point in the past three years, standing at 12.7%.
• CFO turnover, on the other hand, experienced a decline for the third consecutive year in 2022, reaching 13.8%.
• CEOs and CFOs typically hold their positions for approximately four years.
• The average age of CEO and CFO appointments is now in the early 50s.
• Since 2018, the number of female CFO appointments has tripled, reaching 36% in 2022.
• However, female CEO appointments remain significantly lower, ranging between 8% and 9%.

Maya Imberg, Senior Director at Altrata and the lead author of the report, emphasized the importance of this report for companies seeking to implement changes in top leadership positions. She also highlighted the significance of executive recruiters and other organizations staying updated on shifts within the leadership landscape.

The report further explores the journey to the C-suite, revealing that while new CEOs are often appointed internally, the situation is more varied for CFOs. Considering the higher stakes for public companies from reputational and governance standpoints, internal CEO candidates are favored due to their proven track records and demonstrated ability to handle the pressures associated with managing a public company.

To compile the report, Altrata utilized data from BoardEx and delved into the factors influencing the presented statistics.

Altrata is a globally recognized leader in people intelligence. Their extensive database includes over 100 million profiles on influential individuals worldwide, along with more than 12 million profiles on senior decision-makers, board members, and C-suite executives. Altrata provides intelligence on individuals who have the most impact on their clients' success.

Through advanced integration solutions, they offer comprehensive insights and access to billions of connections, enabling clients to close deals, manage risk, and identify key talent efficiently. With a global team of over 400 researchers and data specialists, Altrata maintains millions of profiles, ensuring actionable, accurate, and comprehensive data for clients to effectively engage and establish meaningful connections.