CFO Market Update
I hope the year has started strongly for you.
I wanted to share a brief update on CFO appointment trends and themes emerging from our recent conversations with ASX boards and senior finance leaders.
Over the past six years, ASX-listed CFO appointments have averaged approximately 140 per annum, with a notable spike in 2021 following COVID-related disruption. Activity remained elevated through 2022–2023, moderated in 2024, and returned closer to the long-term average in 2025. This pattern suggests the market has largely moved beyond the post-pandemic churn cycle and into a more stable phase.
Looking ahead to 2026, we expect CFO movement to be deliberate rather than reactive. Appointments will likely be guided by structured succession planning, capital markets activity, and targeted capability uplift, particularly in technology, analytics, and regulatory expertise, to ensure new CFOs can support growth initiatives and navigate a complex operating environment.
From our conversations, we’re seeing a measured but constructive operating environment in 2026, with modest economic growth and stabilising business sentiment. Tighter monetary policy, a firmer Australian dollar, and the prospect of further rate hikes may moderate growth momentum, though the RBA’s approach remains highly data-dependent. At the same time, we’re also hearing growing optimism around IPO activity and a gradual re-emergence of M&A discussions, reflecting cautious confidence in the market.
Against this backdrop, the CFO role continues to expand across capital allocation, risk oversight, and technology-enabled performance. Boards remain focused on disciplined growth, cash generation, and balance sheet resilience, while maintaining clear ROI accountability. ESG governance, regulatory compliance, and cyber risk management continue to be key areas of attention, alongside succession planning to safeguard leadership continuity.
Mel Huang
Partner, Financial Officer Practice