CFO Turnover Sped Up in December

For finance chiefs, the number of job changes reportedly totaled 213 last month, an 8 percent rise over November’s total.
Stephen TaubJanuary 6, 2006

Although job changes among senior managers overall slowed in December, CFO turnover picked up briskly, according to a recent analysis by Liberum Research.

Last month, a total of 2,127 C-level management positions changed hands. That was down 4 percent from November’s total of 2,209, a high for the year.

In contrast, CEO turnover fell 20 percent from the prior month’s annual peak of 259.

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The most volatile executive-employment sector last month was drugs and biotech, with 191 changes. It also had the largest number of CFO changes, 17.

In 2005 as whole, there were 1,855 CFO changeovers, while 2,106 CEO jobs changed hands, according to the study.

Of the management changes overall last year, the most — 7,354, or 44 percent of the total — came from outside the firm. Another 28 percent stemmed from internal promotions, 11 percent were derived from internal moves, 14 percent resulted from resignations or retirements, and 2 percent lacked a clear explanation.