Corporate governance reforms in the UK have led to a high turnover of company chairmen, analysis by Financial News has found. The study also found that the average tenure of chief executives and finance directors has stabilised after a period of high turnover in the years after the stock market collapse in 2000.

Since new governance guidelines were published in 2003, more than 70% of FTSE 100 companies have replaced their chairmen. The analysis found more than a quarter of the chairmen of FTSE 100 companies had been in place for less than one year, and 40% had held their position for less than two years.