Other key findings from the report: About three in eight CFOs have public accounting experience. The average age of new CFO hires dropped in to just under That compares with 52 last year but is still significantly higher than the average age of 44 in The average tenure of CFOs increases with age, and people in their mids tend to stay in the role.
Overall, the number of CEOs who last worked as a finance chief is at 6. To maximize your visibility, we encourage you to register with both Spencer Stuart and BlueSteps. Spencer Stuart uses cookies that are essential for this site to function well.
Learn about our use of cookies and collaboration with trusted partners in our Cookie Policy. Chief financial officers increasingly are called on to be operational experts, strategic partners to the CEO and the voice of the investors in their organizations.
CFOs also collaborate with the CEO on the medium- and long-term planning required to answer the question: How do we position our company relative to competitors five years from now? All of this is a tall order, requiring a diverse set of leadership capabilities and finance and business experience.
CFOs are both more likely to be promoted from within than in the past and, when hired from outside the company, more likely to have prior experience as a CFO. Sixty-nine percent of Fortune CFOs in were internal successors, building on the longer-term trend toward grooming internal successors. Companies with a deep bench of finance talent tend to develop their top performers by rotation through diverse finance assignments and board exposure. They are bringing potential successors into the boardroom earlier and more often to interact with the directors.
Ideally, organizations also are exposing potential successors to investors and the analyst community, which is critical experience in light of the growing focus on investor relations skill. We also are seeing an increase in investor relations, investment banking and corporate development as routes to the CFO role.
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Our Approach. Korn Ferry Tour. Our Leadership Team. Investor Relations. Our Offices. Find an Expert. Press Releases. Korn Ferry Foundation. When analyzed in the aggregate, the average age for a C-suite member is 56 and the average tenure is 4.
However, the numbers vary depending on title and industry. The average age for a CEO across industries is CEOs are the oldest on average of any other C-suite role. The financial services industry has the oldest average CEO age at 60, and the technology and energy sectors have the youngest CEOs at an average age of At an average of 6.
Interestingly, the current tenure is down from an average of 8. In terms of industries, CEOs in financial services have the longest average tenure at 8. This is creating an environment where the average age of the role is decreasing.
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