Administration October 5, 2001
Few Minorities Named CFO
May 10, 2001 (PLANSPONSOR.com) - The rise of
minorities to top finance positions has been very slow,
according to a survey of US corporations.
Reported by Camilla Klein
The survey, by CFO magazine found that only 1.9% of those in top finance posts were from minority groups. Specifically:
- there were only 14 minority finance chiefs at the Fortune 500 companies
- 10 treasurers were from minority groups
- there were five minority controllers.
The survey shows the number of female CFOs climbing from 14 to 24 in the last six years. However, this number is only 4.8% of the total.
The poll of 22 Fortune 500 finance chiefs showed the following reasons for pursuing diversity:
- a multicultural workforce benefits the company by offering diverse opinions and views
- increasing diversity is the right thing to do
- increasing diversity helps reflect the customer base
- more diversity shows that a company is fair-minded.