In the current tough times, CFOs seem to be sticking with their present employers rather than trying their luck in the job market.
Research firm Liberum recorded just 1,250 CFO changes in 2009, down 36% from the 1,946 CFO moves in 2008 and off 46% from the recent high of 2,328 changes in 2007. And 2010 seems to be off to a slow start, with just 186 CFO moves in January and February.
Liberum's statistics on CEOs show a similar decline in turnover. Richard Jacovitz, the firm's director of research, blames the stasis on the recession and the financial crisis. "As a general rule, companies have been more conservative about changing leadership in the midst of a storm," Jacovitz says, but predicts C-suite changes will pick up as the economy revives.