1H26 in Review: Leadership Demand in a World That Has No Interest in Slowing Down
Despite global upheaval, markets have refused to slow down; neither has executive recruiting.
If anything, the first half of the year has reinforced what we have seen across many of our clients: leadership needs become more urgent when conditions become more complex.
Here are the most important and evident trends we have identified so far this year:
CFOs Are in Very High Demand
Finance leadership continues to be one of the most active areas of the executive talent market.
Global CFO turnover rose sharply in 2025, with 316 incoming CFOs, 262 departures, and record appointment activity across the S&P 500. That momentum has carried into 2026.
Companies are looking for strategic, commercially minded leaders who can navigate volatility, guide transformation, communicate with boards and investors, and bring data-driven judgment to decisions across the enterprise.
The CHRO Role Is Evolving
CHRO turnover rose meaningfully in 2025, while first-time CHRO appointments and internal succession remained major themes. Just as important, more CHROs are coming from outside traditional HR tracks, including risk, operations, legal, and compliance.
Today’s CHRO is expected to do far more than manage talent. The strongest CHRO candidates we are seeing are not always the most conventional profiles. They are leaders with judgment, credibility, and the ability to operate across the business during moments of change.
A Healthier Balance Across the Business
One of the clearest positives from the first half of 2026 has been the balance of our business.
We are experiencing one of the healthiest mixes of work we have seen in years, across geographies, industries, ownership structures, and service lines.
Geographically, we have seen increased activity across APAC, highlighted by a notable rise in interest tied to China. North America remains our most active region, accounting for 54% of our searches, with Europe accounting for 29%.
This increased interest in China reflects a broader theme: multinational clients are looking for leaders who can operate effectively in complex markets, combining local knowledge with global commercial standards.
Industry Demand Is Broad-Based
Private equity remains highly active, particularly across industrial manufacturing, data centers, and HVAC. These are markets where operational value creation, technical expertise, and commercial acceleration are critical.
At the same time, our multinational work remains spread primarily across consumer goods, industrial manufacturing, insurance and financial services, and defense manufacturing.
This breadth matters. It suggests that executive hiring demand is not concentrated in one isolated sector. It is being driven by a wider need for leadership capable of navigating transformation, complexity, and growth.
More Work Directly With Private Equity Firms
We are doing more work than ever before directly with private equity firms, not just their portfolio companies. This has included mandates tied to research, commercial leadership, finance leadership, board mapping, operating partners, and non-executive directors.
This reflects the changing priorities of private equity itself. In today’s market, value creation depends heavily on leadership. Operational transformation, succession planning, AI readiness, supply chain resilience, and commercial execution all require the right executives and board members in place.
When leverage and multiple expansion do less of the work, execution matters more. Execution depends on leadership.
A Risk-Averse Model for an Uncertain Market
Throughout our more than 20 years of operation, we have experienced an increased interest from clients during times of crisis, instability, and uncertainty. 2026 has followed that pattern.
In periods of volatility, companies still need to hire. In many cases, leadership gaps become even more costly. However, the risk profile of the search process itself becomes more important.
TXT International’s success-fee model offers a more risk-conscious alternative to traditional retained search models that require large upfront fees. Our incentives are aligned with outcomes, and that alignment has become increasingly valuable to clients who need speed, flexibility, and confidence without overcommitting before results are delivered.
For clients navigating uncertainty, that model continues to resonate.
Board Mapping Continues to Gain Momentum
Our Board Mapping service line has also proven to be a strong solution for clients in the first half of the year.
For organizations that need visibility into the market but are not ready to commit immediately to a full search, board mapping offers a practical way to assess external talent, understand availability, benchmark compensation, and evaluate fit before making a final decision.
More than half of our board maps have resulted in searches, which reinforces the value of the approach. Clients are using mapping not only to fill board seats, but also to support succession planning, pre-acquisition strategy, governance improvements, and long-term leadership continuity.
In a market where leadership decisions carry significant weight, better intelligence leads to better outcomes.
Looking Ahead
The first half of 2026 has made one thing clear: uncertainty has not reduced the demand for leadership. It has sharpened it.
Companies are looking for CFOs who can guide strategy, CHROs who can lead transformation, operators who can create value, board members who can bring fresh perspectives, and executives who can navigate complex global markets.
As we move into the second half of the year, we expect these themes to continue.
Whether you are planning a senior executive search, evaluating your leadership bench, mapping the board market, or exploring talent in a complex region, we would be glad to share what we are seeing and discuss how TXT International can support your priorities.
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Have any questions? We are always open to talk about your executive hiring needs, challenges, and opportunities, and discuss how we can help you.