A number of finance chiefs at some of the country’s biggest companies have left their jobs in recent weeks, an exodus that comes amid the pressures that high inflation and the Covid-19 pandemic have had on corporate balance sheets and the economic outlook.
Fall is often a period of heightened CFO turnover, because this is when companies tend to launch searches to bring in new finance executives for the early part of the next year, recruiters said. This time around, however, recruiters are seeing more churn than usual among finance executives, which they expect to continue throughout the end of the year.
September, for instance, saw the highest number of monthly departures at companies in the S&P 500 since the beginning of the year, accounting for roughly 20% of the 71 CFO exits through the third quarter, according to Russell Reynolds Associates, an executive search firm. This…
