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Fortune

Sheryl Estrada

More Fortune 1000 firms want to hire CFOs from their own industry—a switch from past years. Here's why

United States Heidrick Struggles

(Credit: Getty Images)

Good morning. A trend is brewing this year where large companies are making a pivot away from hiring cross-industry CFOs, according to an analysis.

New data from executive search firm Heidrick & Struggles reveals signs of a decline in a focus on cross-industry CFO hires. So far in 2024, about 61% of firms in the Fortune 1000 hired cross-industry CFOs. In 2023, 91% of firms hired a CFO from a different industry, according to the analysis. I sat down with Alyse Bodine, Heidrick & Struggles’ global managing partner of the Financial Officers Practice, to find out more.

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