While the percentage of female CFOs dipped slightly in 2017, more women were internally promoted to the CFO position.

Just 11% of CFOs across industries are women according to a survey of top 1,000 US companies by executive recruitment firm Korn Ferry. The survey was conducted in mid December 2017. This figure was down from 12% in 2016.

Retail was the industry with most female CFOs at 19%, followed by consumer goods at 15%. Finance and healthcare were tied at 8%. The executive search firm mentioned that while the percentage of female CFOs dipped slightly in 2017, it was seeing a positive trend of women being internally promoted to CFO.

Bryan Proctor, leader, Global Financial Officer Practice at Korn Ferry, said that between 2012 and 2015, on average, 48% of female CFOs attained the position through an internal promotion. “Last year, the percentage of females internally promoted to CFO rose dramatically to 86%,” he said. “We now see that companies consider diversity an absolute requirement when considering CFO succession options.”

women cfos in US companies
Data Source: Korn Ferry. Companies include publicly traded companies and private companies with public financials