Hang Seng CFO turnover remains stable in Q1
In Asia Pacific, CFO turnover dropped by 24% year-on-year in 2024.
Hang Seng’s chief financial officer (CFO) turnover was unchanged during the first quarter of the year, according to a Russell Reynolds Associates report.
In Asia Pacific, CFO turnover dropped by 24% year-on-year in 2024, outpacing the global average decrease of 7%.
Family-controlled companies in Asia have a lower turnover rate than the global average, with companies prioritising stability and taking longer to identify a replacement.
More than six in 10 (67%) of newly appointed CFOs in APAC were first-timers, and 66% were promoted from within their organisations.
Moreover, the average tenure for outgoing CFOs in the region is now 4.7 years, shorter than the global average of 5.8 years.
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