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Ladies and racial and ethnic minorities proceed their upward push to govt roles, even supposing the odds stay low. The share of CFOs who’re ladies hit an all-time excessive final yr, and the choice of feminine CFOs has virtually doubled during the last 10 years, in keeping with the Crist Kolder Volatility Record.

Ladies made up 16% of CFOs final yr, which is up from 6.3% in 2004, when Crist Kolder started monitoring the knowledge. The chief recruiting company’s annual record analyzes knowledge from greater than 650 corporations drawn from a number of the Fortune 500 and S&P 500. In uncooked numbers, there have been 110 corporations with feminine CFOs — up from 63 in 2012 and 35 in 2004. Maximum of the ones had been within the monetary, generation, products and services, and commercial sectors.

Gender range amongst CEOs is decrease. Ladies make up 8% of leader executives, which may be an all-time excessive. The choice of CEOs who’re ladies higher for the fourth consecutive yr, maximum of them within the monetary sector.

For CFOs, promotion to the CEO place is trending up. About 8% of sitting CEOs come without delay from a CFO position. That is the similar as 2021, however a gradual build up during the last decade.

That CFO-to-CEO trajectory is maximum commonplace within the monetary sector. About 26% of CEOs within the monetary sector got here without delay from a CFO place. The commercial, products and services, and shopper sectors had been subsequent (every at 17%).

Different findings of word from the record:

  • Because the starting of the pandemic, there was a large drop within the exterior hiring of CFOs. About 35% of CFOs had been recruited from outdoor the corporate final yr. The quantity is down from 43.1% in 2020. The ancient reasonable is 37.9%.
  • The monetary and commercial sectors have the longest-tenured CFOs. The common tenure of a CFO within the monetary sector is 5.7 years, adopted via the economic (5.6), retail (5.3), and generation (5.2) sectors.
  • Racial and ethnic range amongst CFOs and CEOs has higher. The share of businesses with various CFOs is set 10%, up from 5.2% in 2014 and a pair of.9% in 2004. The share of businesses with various CEOs tracks at about the similar fee.
  • Public universities produce the vast majority of sitting CFOs. They produce 54% of CFOs, with Penn State, Virginia, and Indiana topping the record. Penn, Notre Dame, and Duke lead the personal universities.
  • CFOs who earn an undergraduate level in trade overwhelmingly primary in accounting. Sixty-one p.c of CFOs graduated with an undergraduate level in trade, and 45% of the ones majored in accounting. Different common majors had been economics, finance, and trade management.

— To remark in this article or to indicate an concept for some other article, touch Kevin Brewer at [email protected].


Supply Via https://www.journalofaccountancy.com/information/2023/feb/the-number-cfo-women-hits-all-time-high.html