Female CFOs Make An Impact

By Kelly Reiff posted 10-24-2019 10:57 AM

Did you know within the first 24 months of appointing female CFOs, companies saw, on average, a 6% increase in profits and an 8% better stock return, compared to performance under male predecessors? That's right, women are positively impacting the workplace as we know it.

Check out this article posted on Bloomberg which provides more insight on how women are succeeding in their roles as CFOs. 

Yvonne McGinley, CFO of Griswold Home Care and CFO Alliance Global Advisory Board Member read the article and commented: "Less than 15% of CFOs in US businesses are women. Those women who have attained the CFO role tend to have a different mindset. They had to be the best of the best to get where they are today. It would make sense that women who have made it to the CFO level outperform their male counterparts. Beyond being strong accountants, women in CFO roles have to be more driven, creative, empathetic, and outspoken. As the role of the CFO changes in our world today from number crunching to leading and problem solving, women who made it to the CFO level will be strong performers and drive companies to success."  

Robyn Pollack, Head of our very own AchieveNEXT Human Capital Practice said: "Research demonstrates that enterprises that focus on adding more women to the c-suite - particularly the CFO role - realize additional success and growth.  It is the inclusion of diverse experiences and perspective that drives financial performance, and that is what women are bringing to the table."