The Best CFOs Aren’t Searching—Here’s How to Find Them

Finding a CFO is harder than ever—and companies’ expectations keep growing

Many companies searching for a CFO outline an ambitious wish list—digital transformation experience, M&A, operational expertise, strategic visionaries who can “drive change”—all on top of exceptional business acumen. These are the table stakes. But CEOs and boards are often seeking something more, even if they can’t quite define it. 

But here’s what decades in CFO recruitment have taught me: The challenge isn’t just finding CFOs with the right skills—it’s engaging the right leaders in a meaningful way. The best CFOs aren’t passively waiting for opportunities; they’re deeply committed to driving their organizations forward. Winning them over requires a strategic, long-term approach built on credibility, trust, and the ability to offer them something truly compelling. 

The Current State of CFO Recruitment

Amid the pandemic, CFO turnover hit a five-year high in 2021, with 21% of CFOs leaving their positions. That figure has jumped even higher—now 34% of mid-market CFOs are considering leaving their roles in 2025. The average CFO tenure is just 3.5 years—only slightly less than the CEO—barely enough time to follow through on a major strategic initiative. Meanwhile, CFO compensation grew 3.6% annually since the pandemic’s end, with median total pay reaching $4.9 million among S&P 500 companies. 

But in a hypercompetitive market, money is only part of the answer to solving the CFO recruitment puzzle. With S&P 500 CEOs earning three times more at $15 million, CFOs might even argue they’re undervalued given their expanding responsibilities. More than 75% are now responsible for enterprise-wide data and analytics—a responsibility that didn’t exist in most CFO job descriptions a decade ago. And they’re simultaneously tackling priorities like AI adoption, where 58% of finance functions piloted new tools in 2024 alone, up from 37% the year prior. 

This expanding scope helps explain why 80% of CFOs report feeling “stuck in the grind.” The pressure comes from all sides: while they’re racing to implement AI and automation while reevaluating investments to focus on margin-improving projects. These mounting responsibilities don’t just create burnout—they’re making it harder to find and keep qualified finance leaders who can handle this breadth of challenges. And while 55% of CFOs consider talent acquisition and retention a serious business risk, only 38% of other C-suite executives share this concern. The reason? CFOs understand the talent challenge better than anyone because they’re experiencing the same challenges driving their own teams to look elsewhere.  

The high turnover isn’t surprising, but many boards aren’t helping matters either. When I talk with them, they often say they want someone different from their last CFO—more strategic, more innovative, more people-focused. So, essentially, someone who can take on even more responsibilities than their incumbent CFO. This misalignment between what CEOs and boards want and how they search often undermines their chances of finding the leaders they actually need. 

Here’s the irony: the CFOs most worth pursuing are often the ones managing these pressures best. However, attracting their interest takes more than a compelling job description—it requires understanding what actually drives and motivates them, and being able to articulate your organization’s unique value proposition. 

Here’s What Actually Works When It Comes to Finding a Great CFO

The path to finding these leaders starts with recognizing the builders. These are the ones worth pursuing, even if they say they’re not interested at first, because they’re focused on creating lasting value, not just advancing their careers. 

This focus on building extends beyond individual achievement. When a finance organization consistently elevates people into broader roles, hosts effective rotation programs, or becomes recognized as a training ground for future leaders—that’s the mark of a CFO who thinks intentionally about talent development and succession planning. And that’s the kind of CFO you need. In board presentations or investor conversations, these are often the ones asking unexpected questions that challenge comfortable assumptions. They have the gravitas to expertly wrestle with the most challenging problems and situations.  

The timing of your approach is important too, however. With over 70% of CFOs now shouldering responsibilities beyond finance, and 50% reporting their finance leadership teams need an overhaul, the best CFOs often become most approachable during natural inflection points—after completing major initiatives, when their companies undergo changes, or when they’ve successfully groomed their successors. But you need to build relationships well before these moments arrive. 

Why Companies Need CFO Executive Search Partners

People often ask how we identify CFOs who aren’t actively exploring new opportunities. The key is our ability to build relationships and establish credibility long before a leadership transition is even on the table. 

As executive search consultants, we’re already part of these networks. We’ve spent years—sometimes decades—building relationships with board members, audit committee chairs, and CFOs. When a client is searching for a CFO, we’re not starting from scratch. We’re tapping into conversations we’ve been having for the past 18-24 months. 

What makes the difference is the nature of our conversations. We understand the challenges these CFOs are facing, their vision for their teams, and how they’re thinking about their own career path. These aren’t “job interviews”—they’re discussions about their future and aspirations. These are two-way conversations—we open doors for executives, and they share insights about their industries and roles. It’s not a direct exchange at first, but it’s not transactional. These relationships matter most when the right opportunity inevitably arises. 

A board chair put it perfectly to me once: “I don’t want a CFO who’s looking for their next job. I want one who’s so focused on creating value in their current organization that that we have to work hard to get their attention.” That’s exactly what we do—we get the attention of CFOs who are too busy doing great work to look for new opportunities. And it works because we’ve already built that trust. These CFOs know us, they’ve talked with us, they take our calls. 

The truth is, generally speaking, boards and CEOs don’t have the time to build and maintain these kinds of long-term relationships with an evergreen list of executives. They’re not positioned to track who’s doing exceptional work in different industries. And most importantly, they’re not as well positioned to have candid conversations with CFOs who may not be fully engaged in their current roles.  

That takes a broad market perspective, and that’s our job. We’re the ones with access to a broad network of CFOs and can call a CFO and, as your ambassadors to the market, say, “I know you’re not looking, but…” These aren’t quick transactions—they’re careful, patient conversations that start months or even years before the right opportunity comes along. 

About the Author

Cathy Logue, FCPA, FCA is a founding Managing Director at Stanton Chase Toronto and Global Leader of Stanton Chase’s CFO Practice Group. She has over 30 years of executive search and financial leadership experience, working with clients across North America. Prior to her career in executive search, Cathy obtained her Chartered Accountant designation with Ernst & Young, and was awarded the Fellow (FCPA, FCA) designation in 2017. In 2021, she was recognized by the WXN Top 100: Most Powerful Women in Canada for her efforts in advancing women in leadership. Cathy sits on the Board of the Association of Executive Search and Leadership Consultants (AESC) and is former Vice Chair, Finance on the Stanton Chase Board of Directors.