CEOs Under Pressure: CFOs Emerge as Top Internal Threat to Job Security
A new study by Boston Consulting Group (BCG) reveals that over 25% of CEOs see their chief financial officer as the greatest internal threat to their job security. This insight comes at a time when executives are also dealing with increased oversight from boards and experiencing notably high stress levels. Together, these factors suggest a broader trend: CEOs often face their most intense pressures from those within their immediate circle, while longer-term risks, such as leadership turnover, tend to receive less focus.
The findings are drawn from BCG’s first CEO Insomnia Index, a global analysis combining survey responses from around 500 CEOs—leading companies with revenues between $100 million and over $5 billion—with data on CEO turnover across the S&P 1200.
More than 70% of CEOs report stress levels that fall within a clinically high range, with an average score of 66.7 out of 100. Additionally, 57% say that short-term priorities dominate their schedules, often at the expense of addressing long-term opportunities and risks.
According to Judith Wallenstein, a managing director and senior partner at BCG who leads the firm’s CEO Advisory practice, balancing immediate performance targets with long-term growth has always been challenging. However, she notes that today’s CEOs must do so with less time and under closer scrutiny from increasingly informed boards—pressure that ultimately cascades down to them.
Rising Internal Pressures
Core business expectations continue to be the primary drivers of stress. Achieving growth targets and controlling costs remain top concerns, with 60% of CEOs anticipating difficult operating conditions in the near future.
At the same time, stakeholder pressure is intensifying:
The findings are drawn from BCG’s first CEO Insomnia Index, a global analysis combining survey responses from around 500 CEOs—leading companies with revenues between $100 million and over $5 billion—with data on CEO turnover across the S&P 1200.
More than 70% of CEOs report stress levels that fall within a clinically high range, with an average score of 66.7 out of 100. Additionally, 57% say that short-term priorities dominate their schedules, often at the expense of addressing long-term opportunities and risks.
According to Judith Wallenstein, a managing director and senior partner at BCG who leads the firm’s CEO Advisory practice, balancing immediate performance targets with long-term growth has always been challenging. However, she notes that today’s CEOs must do so with less time and under closer scrutiny from increasingly informed boards—pressure that ultimately cascades down to them.
Rising Internal Pressures
Core business expectations continue to be the primary drivers of stress. Achieving growth targets and controlling costs remain top concerns, with 60% of CEOs anticipating difficult operating conditions in the near future.
At the same time, stakeholder pressure is intensifying:
- Boards are identified as the most stressful group, even when alignment is strong.
- One-third of CEOs feel they now have more to prove to their boards compared to six months ago.
- Senior leadership teams rank among the top three stress sources, and are the leading stress factor for CEOs of the largest organizations.
- Over half of CEOs expect to restructure their senior leadership teams within the next six months.
These trends highlight the increasing complexity of the CEO role, where even strong internal relationships can become sources of tension.
Overlooked Long-Term Risks
While CEOs remain highly focused on immediate performance, the research suggests a gap between perceived threats and actual risks to their tenure.
Some factors strongly linked to CEO turnover are currently viewed as less pressing:
Overlooked Long-Term Risks
While CEOs remain highly focused on immediate performance, the research suggests a gap between perceived threats and actual risks to their tenure.
Some factors strongly linked to CEO turnover are currently viewed as less pressing:
- Shareholder activism, which raises the likelihood of CEO turnover by 24%, ranks among the least concerning issues.
- A 10% decline in employee net entry rate increases the probability of a CEO’s exit by 12%, yet employee dissatisfaction is not a top concern for most leaders.
- Artificial intelligence, despite growing expectations for returns, ranks relatively low among stressors. In fact, 84% of CEOs say innovation in AI energizes them rather than adds stress.
Jessica Apotheker, BCG’s global chief marketing officer and head of BCG X’s tech build and design division, notes that AI can pull CEOs away from day-to-day pressures by allowing them to learn, innovate, and shape their company’s future direction.
Only 38% of CEOs report concern about employee dissatisfaction, suggesting that workforce sentiment may be undervalued as a potential risk factor.
The Human Side of Leadership
Beyond operational challenges, many CEOs also experience emotional strain. The role is often described as isolating, as leaders are expected to absorb pressure from boards, employees, and other stakeholders.
While 72% of CEOs are confident that their decisions will positively shape their long-term legacy, nearly one in three remain uncertain.
Overall, the findings point to a broader leadership challenge: CEOs must navigate the tension between delivering immediate results and addressing less visible—but equally important—long-term risks and organizational well-being.
Media Contact:
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com
Only 38% of CEOs report concern about employee dissatisfaction, suggesting that workforce sentiment may be undervalued as a potential risk factor.
The Human Side of Leadership
Beyond operational challenges, many CEOs also experience emotional strain. The role is often described as isolating, as leaders are expected to absorb pressure from boards, employees, and other stakeholders.
While 72% of CEOs are confident that their decisions will positively shape their long-term legacy, nearly one in three remain uncertain.
Overall, the findings point to a broader leadership challenge: CEOs must navigate the tension between delivering immediate results and addressing less visible—but equally important—long-term risks and organizational well-being.
Media Contact:
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com
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