More than one quarter (28%) of finance chiefs at large companies with revenue of $10 billion or more said their organizations have no formal CFO succession plans, according to a recent survey from Deloitte.
The 2Q24 CFO Signals report includes the findings from 200 CFOs queried during April and May 2024, with roughly 25% of all respondents stating their firms lacked such succession plans.
Another notable Deloitte survey finding is that CFOs are often not in charge of creating or keeping up succession plans.
Of the respondents in the survey, the largest group (29%) said those tasks are largely held by CEOs, followed by chief human resources officers (24%) and the board of directors (21%). Learn more.