Women CFOs

Women Chief Financial Officers

According to the Census of Women Corporate Officers and Top Earners which was conducted by Catalyst , a non-profit research group sometime in 2002 , the number of women Chief Financial Officers (CFOs ) in the major companies in the country has been increasing at a snail 's pace Yoon , 2002 . Simply stated , the appointment of women to this position has remained to be a slow process . This finding is validated by the different surveys and studies which have been conducted in recent years .The first ever female who made it as

CFO of a major American company Judy Lewent , received her appointment from Merck Company , a major pharmaceutical company , way back in 1990 (Shipman , 2007 . However , after five years , only nine other females were able to follow in her footsteps . This figure was shown in the first survey of female CFOs in the Fortune 500 companies which was conducted by the CFO Magazine in 1995 . In other words , between 1990 and 1995 , only ten of the Fortune 500 companies appointed female CFOs , representing a meager two percent (Stuart , 2006

By 2000 , the number of female CFOs in the Fortune 500 companies increased to around 5 .6 percent and by 2002 , the figure rose to 7 .1 percent (Yoon , 2002 . This percentage means that as of 2002 , only 35 women were able to rise to the position of CFO twelve years after the first female CFO was appointed by Merck . Their number grew to 38 in 2006 - or...