The year 2021 saw a record number of Fortune 500 and S&P 500 companies with female CFOs at 15 percent, Fortune reported Aug. 22.
That number points to positive trends for women.
Fortune cited research from Cowen Partners Executive Search, which tracked 250 CFO appointments at major companies in 2022 through July. Cowen's research found that one-third of first-time CFOs hired and CFOs promoted have been women, and 19 percent of those moves have involved women of color.
"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. Now, there is a bench of qualified candidates," Shawn Cole, Cowen Partners' president, told Fortune.