CHICAGO--(BUSINESS WIRE)--Crist Kolder Associates, a senior level executive search firm, has announced the release of its mid-year Volatility Report 2024, an in-depth research study aimed at measuring movement and trends at the CEO, COO, CFO, and Board levels of the top companies in the country.
In announcing the release, Clem Johnson, President of Crist Kolder Associates, stated, ”The constantly shifting dynamics facing America’s top companies continue to drive significant turnover among C-suite executives. Inflationary pressures, changing consumer and workforce behaviors, geopolitical tensions, and election year anxieties are just a few of the hurdles in this year’s obstacle course. Boards of companies in decline are under pressure to act decisively, and even stalwarts with deep talent benches such as Starbucks, Boeing, and 3M have turned to external CEOs to restore confidence. On the Finance side of the house, the majority of current CFOs are performing that job for the first time, and, despite high levels of internal promotions, companies have hired CFOs from outside their organizations at the highest rate in ten years. The broad mandates of modern CFOs have given rise to historically high rates of CEOs who were once CFOs. This trend cranks the flywheel faster, and, sure enough, average CFO tenure has decreased to just 4.7 years. The only constant is more change, so executives who demonstrate an ability to lead through ambiguity will continue to be in high demand.”
Some highlights from the 2024 mid-year Volatility Report include:
- External hiring of CFOs hits a 10-year high.
- Promotion from CFO to CEO dipped in the first half of 2024 but is trending upward overall.
- Three-quarters of CFOs came directly from a number two finance position.
- The percentage of female CEOs and CFOs has nearly doubled over the past decade.
- Ethnic and racial diversity among CFOs has nearly tripled in the past decade.
To download a copy of the mid-year Volatility Report 2024, please go to www.cristkolder.com.
About Crist Kolder Associates
Crist Kolder Associates is a senior level executive search firm with a national presence. The Firm limits itself to 70 engagements per year, as well as a select number of Board of Director searches. Crist Kolder serves clients across all industries. For more information, please visit www.cristkolder.com.
