Big U.S. Companies Step Up Hiring of Female, Black CFOs

1.18.22

An article by Wall Street Journal writes that Big U.S. companies step up Hiring of Female, Black CFO’s.

America’s biggest businesses employed more female and Black finance chiefs in 2021 than ever before—albeit coming from a relatively low base—as company leaders and boards are under pressure to broaden their C-suite, a trend recruiters expect will accelerate in 2022.

The number of companies in the S&P 500 and Fortune 500 with Black chief financial officers nearly doubled over the past year, to 20 in 2021 from 12 in 2020, based on new data from executive search firm Crist Kolder Associates. That’s 2.9% of 678 sitting CFOs, up from 1.8% in 2020. The percentage of female CFOs at those businesses also reached an all-time high at 15.1% in 2021, up from 12.6% in 2020, the data show.

Among the firms that gained Black CFOs last year were telecommunications giant AT&T Inc., which promoted Pascal Desroches; sports retailer Foot Locker Inc., which hired Andrew Page; and investment firm Teachers Insurance and Annuity Association of America, which recruited Dave Dowrich. Animal-health company Zoetis Inc. and industrial-supply company W. W. Grainger Inc. also hired Black finance executives.

Click here to read the entire Wall Street Journal article.