Jan 24, 2018, 2:50 PM
(from Financial Management) Gender and racial diversity amongst CFOs continues to lag, studies show. Women account for 12.6 percent of CFO positions in leading businesses, according to a recent study of more than 673 large companies, most of which are based in the US. That’s nearly double the percentage from a decade ago. Seven percent of CFOs are people of colour, with 46 individuals identified as ethnically or racially diverse, up from 16 ethnically or racially diverse CFOs in the study in 2005.
The study, which analysed hiring and promotion practices of more than 200 large companies and surveyed 70,000 employees, found that women are getting passed over for key promotions early in their careers, and continue to be passed over for promotions at disproportionate rates compared with their male colleagues throughout their careers. That results in fewer women in top jobs.
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