Women CFOs At Top Companies See Gains In First Half Of 2022
Cowen Partners CFO Movement Study 2022 provides insights into the growth, value creation and positioning, and recruitment of women and people of color CFOs.
Women as chief financial officers (CFOs) are becoming more prevalent in top company boardrooms, and the experience translates into significant influence and economic benefit to women in business. New female CFOs outperformed last year by taking 36% of CFO positions during the first half of 2022, according to the Cowen Partners Executive Search, which was based on analyses of 264 CFO transitions as of July 2022 at the Fortune 500 and notable companies.
White male executives will likely keep their tenuous advantage among the chief financial officers (CFOs) ranks at Fortune 500 companies, women and minority candidates are gaining ground. It’s good to know that women have kept up the pace of progress. With an impressive 36% of new CFO hires now women, a new generation of finance leadership is emerging.
“Women continue to grow as a force in the finance industry. Our report shows that the momentum in female and minority financial leadership continues to improve with yet another quarter of global gains, which is a key indicator of future trends in executive-level positions. The numbers are strong, and the momentum is even stronger. We expect further increases as we move into the second half of 2022.” said Cowen Partners
The hiring landscape for women of color continues to improve as more gender diverse, and racial diversity candidates are hired into high-level positions. According to a CFO study brought by Cowen Partners, more females of color are being promoted within their current companies than white female executives. This finding is particularly impactful given that there is a low percentage of females of color in CFO positions compared to other gender and ethnic groups.
The share of women CFOs at top companies has made significant gains since last year and are leading the way as part of an overall jump in the number of new C-suite executives. The study details the trends that have led to these changes and suggest what might happen in the coming year.
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