[Asia Economy Reporter Cho Hyun-ui] The hiring of Black and female Chief Financial Officers (CFOs) at major U.S. corporations has significantly increased.
The Wall Street Journal (WSJ) reported on the 18th (local time), citing data from headhunting firm ChristColder, that "last year, among companies in the Standard & Poor's (S&P) 500 index and the Fortune 500, the number of companies with Black CFOs was 20, a 67% increase from 12 the previous year."
Among the 678 current CFOs, the proportion of Black CFOs also rose from 1.8% to 2.9% during the same period. WSJ noted, "Companies that appointed Black CFOs include telecommunications company AT&T and sports goods retailer Foot Locker."
The proportion of female CFOs also increased from 12.6% to 15.1% during this period, reaching an all-time high. Companies that appointed female CFOs last year include oil company ExxonMobil, cable company Charter Communications, and pharmaceutical company Eli Lilly.
WSJ stated, "Since 2013, the number of female and Black CFOs at major U.S. corporations has been increasing annually," adding, "As demands for gender and racial diversity grow, the number of female and Black CFOs is expected to continue rising."
In the U.S., Nasdaq has mandated since August last year that most listed companies appoint two directors from minority groups, including women and racial minorities, to their boards. The proportion of women among all directors at S&P 500 companies rose to 30% as of May last year.
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