The number of women holding the top job across the largest listed companies in the UK is the same now as it was four years previously, according to new research. The news comes even though global CEO turnover is 21% above an eight-year average.

A report from headhunters Russell Reynolds Associates finds that the FTSE 100 was last year home to only eight female CEOs, the same number of female corporate leaders as in 2021.

The report says the date “highlights both the fragility of recent gains and the importance of sustained focus.

“While momentum can meaningfully accelerate over short periods, maintaining—and translating—that into durable representation requires continued attention.”

The figures comes amid increased CEO turnover in the FTSE 100 and globally. Last year, there were 14 CEO departures from the FTSE 100, while the global study group saw 16% year-on-year increase to 234.

Russell Reynolds’ figures show 11 CEOs last year lasted less than 12 months in the job before moving on.

Grace and pace

Laura Sanderson, EMEIA co-lead at Russell Reynolds, says “grace periods” for new appointees have been “severely compressed”, increasing the pressure on CEOs entering a new role.

“Today, CEOs are expected to demonstrate momentum almost immediately, even while they are still building their teams and navigating increasingly complex external demands.”

It is yet another year of record movement of CEOs. Last year’s survey showed 202 CEOs moved—at the time, considered the highest on record.

The movement last year was explained by changing politics and the need for CEOs who could communicate with new governments.

In 2025, there seemed to be a growing number of CEOs who moved due to planned succession, a switch described as “pronounced” in the technology sector.

Russell Reynolds believes this may show that boards are investing more time and effort in planned succession.

“Rather than relying primarily on retirement or reacting to deteriorating performance, directors are increasingly using CEOs as a strategic tool to manage continuity, renewal and long-term value creation,” the report says.

Globally, average CEO tenure was down in 2025 to 7.1 years from 8.3 years in 2021. The number of CEOs moving on after 30-36 months from arrival increased 79% year on year.