CFO turnover rate holds steady at 3.3% since Q1 2024: report

APAC CFO turnover dropped to 69 in 2024.

The percentage of incoming CFOs in Singapore remained unchanged from Q1 2024 to Q1 2025 at 3.3%, according to data from Russell Reynolds Associates’ 2024 Global CFO Turnover Report.

During the period, external appointments and experienced candidates made up the majority of the new CFO hires.

In APAC, CFO turnover in 2024 dropped to 69 appointments from 88 in 2023. Of these, 67% of newly appointed CFOs were first-timers, higher than the global average of 60%.

Globally, CFO turnover also dropped 7% YoY.

“In Asia Pacific, the need to cultivate deep relationships and trust within family-controlled organisations necessitates a more measured approach to CFO transitions, prioritising long-term stability over rapid change,” Adelin Choy, executive director and APAC CFO Practice Lead at Russell Reynolds Associates, said.