Boards appeared to have turned away from ‘newbie’ CEOs and have made a “notable shift” toward experienced corporate leaders, according to new figures.

The Global CEO Turnover Index from Russell Reynolds shows that the first quarter of 2026 saw an increase in global CEO appointments, with a distinct rise in the proportion already serving as corporate leaders. In Q1, 26% of appointments were experienced CEOs, compared with 17% for the same period last year and only 8% in 2024.

Russell Reynolds says in its report that boards, in the 12 indices tracked by the survey, have a “sharper focus” on “readiness, credibility and continuity”.

“The rise in experienced CEO appointments points to a growing premium on leaders who step in and perform quickly, while the continued preference for internal successors reinforces the value of strong CEO pipeline development.”

The pivot to experienced CEOs is strongest in the US among S&P 500 companies, where the hire rate of experienced CEOs stood at 41%—the highest level for nine years.

In the FTSE 100, first-time CEOs accounted for 80% of hires in the early part of this year, compared with 100% last year.

World trend

Russell Reynolds found global CEO appointment activity has reached a new high across the 13 indices, with 77 CEOs appointed—the largest number (while the figures have been tracked) since 2018.

The report says: “High CEO turnover is reflective of market volatility and the increased scrutiny of CEOs today among both boards and activist investors.”

Russell Reynolds also found that the tenure of outgoing CEOs was up, with the global average reaching 10 years in Q1, compared with 6.6 years at the same point in 2025.

Russell Reynolds says: “This suggests that boards have been willing to retain CEOs who have demonstrated an ability to navigate sustain periods of complexity.”