Girls and racial and ethnic minorities proceed their upward push to govt roles, even if the odds stay low. The proportion of CFOs who’re females hit an all-time excessive ultimate 12 months, and the selection of feminine CFOs has virtually doubled over the last 10 years, consistent with the Crist Kolder Volatility Document.

Girls made up 16% of CFOs ultimate 12 months, which is up from 6.3% in 2004, when Crist Kolder started monitoring the information. The manager recruiting company’s annual record analyzes knowledge from greater than 650 corporations drawn from a few 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 have been within the monetary, generation, products and services, and business sectors.

Gender variety amongst CEOs is decrease. Girls make up 8% of leader executives, which may be an all-time excessive. The selection of CEOs who’re females larger for the fourth consecutive 12 months, maximum of them within the monetary sector.

For CFOs, promotion to the CEO place is trending up. About 8% of sitting CEOs come at once from a CFO function. That is the identical as 2021, however a gradual building up over the last decade.

That CFO-to-CEO trajectory is maximum not unusual within the monetary sector. About 26% of CEOs within the monetary sector got here at once from a CFO place. The economic, products and services, and shopper sectors have 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 have been recruited from out of doors the corporate ultimate 12 months. The quantity is down from 43.1% in 2020. The ancient moderate is 37.9%.

• The monetary and business sectors have the longest-tenured CFOs. The typical tenure of a CFO within the monetary sector is 5.7 years, adopted through the economic (5.6), retail (5.3), and generation (5.2) sectors.

• Racial and ethnic variety amongst CFOs and CEOs has larger. The proportion of businesses with various CFOs is set 10%, up from 5.2% in 2014 and a couple of.9% in 2004. The proportion of businesses with various CEOs tracks at about the similar price.

• Public universities produce nearly all of sitting CFOs. They produce 54% of CFOs, with Penn State, Virginia, and Indiana topping the record. Penn, Notre Dame, and Duke lead the non-public universities.

• CFOs who earn an undergraduate stage in industry overwhelmingly primary in accounting. Sixty-one p.c of CFOs graduated with an undergraduate stage in industry, and 45% of the ones majored in accounting. Different widespread majors have been economics, finance, and industry management.

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