When do companies hire CFOs?
Sergey Nivens / iStock / Thinkstock / Getty Images
CFOs are becoming increasingly popular with companies. As can be seen from a FINANCE analysis of all publicly communicated CFO changes, corporations in Germany, Austria and Switzerland appointed 310 new CFOs in 2015. This corresponds to an increase of 15.7 percent; in 2014, only 268 chief financial officers took up a new position. For the analysis, FINANCE 2015 collected all CFO changes that companies in the three countries have officially notified or confirmed.
In contrast to the new appointments, the number of departures is more or less constant: 234 CFOs left their company in 2015, compared to 230 in the previous year. In total, there should be significantly more CFOs in Germany than a year ago.
Average age of CFOs is increasing
The data also shows that women continue to find it difficult to assert themselves in the CFO position: only 7.4 percent of appointed financiers in the past year were women. In 2014 it was at least 10.1 percent.
Obviously, companies are again preferring CFOs with more experience - this could also be due to the global economic situation, which is much more volatile today than it was a year ago. One thing is certain: the average age of newly appointed CFOs has risen slightly from 45.6 to 45.9 years.
The trend even intensified in the last three months of 2015 compared to the previous year: While the CFOs were only 43.8 years old on average in the last quarter of 2014, the value in the past three months was 46.1 years. The average age of CFOs also increased in the first three quarters of 2015.
jakob.eich [at] finance-magazin.de
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