CFO churn at top U.S. firms set to hit 18.3% in 2026, highest since pandemic

According to Crist Kolder Associates' mid-year 2026 Volatility Report, CFO turnover among the nation’s biggest public companies is expected to climb to 18.3% for the full year, eclipsing the pandemic-era peak. The study examined leadership changes at 665 Fortune 500 and S&P 500 firms, noting that the average turnover rate over the past decade has been 16%. Executives cite expanding responsibilities and retirements as key factors, highlighted by departures at AT&T, Caterpillar, Oracle, Nike and Pfizer.

The data also reveal a shift toward younger finance leaders, with the average age of new CFOs falling to 48 from 52 the previous year, and an average tenure of 4.5 years. Moreover, only roughly 25% of incoming CFOs are moving directly from another CFO role, indicating a broader talent pool is being considered. These trends underscore evolving demands on finance chiefs as companies pursue turnarounds and AI-driven initiatives.