Cowen Partners Quoted by Fortune Magazine on CFO hiring trends of women and people of color.
Using publicly available data, Cole says the firm has tracked more than 250 CFO appointments as of July 22 at Fortune 500 and S&P 500 companies, and other companies known to the general public, he says. The analysis includes company finance chiefs, as well as divisional and global CFO positions.
I believe the reason we are seeing more female CFOs now is that for years companies have invested in hiring women at levels that allow for leadership development,” Cole tells me. “Now, there is a bench of qualified candidates.
We now see more female VPs we and others can pull from. Additionally, internal promotions are a risk on an untested, unproven executive, but companies are taking that risk and they are taking it increasingly on women and people of color – because they have a bench to draw from.
One of the report findings is that women of color were more likely to have earned their first-time CFO positions as a result of internal promotionsShawn Cole, President Cowen Partners Executive Search
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