Historically, there has been a shortage of women in finance leadership roles. But that is changing.
Women in finance dominated this year’s Fortune magazine’s Most Powerful Women (MPW) list. Technology ranks a close second for her, followed by retail and healthcare. It marked her 25th anniversary on the list of Dynamic Women in Business and was highly competitive for a spot – it was the first time the international and domestic editions were not separate. , is a global list. All the spots were filled by CEOs or people trying to be. Her CEO of CVS, Karen Lynch, took her first place.
Two CFOs of the world’s largest technology companies, Google and Microsoft, made the list.
Ruth Porat (#12) has been SVP and CFO of Alphabet and Google since 2015. This year, Porat oversaw his $5.4 billion acquisition of cybersecurity firm Mandiant by Google, which closed last month. This was his second largest acquisition to date for the company.
Amy Hood (No. 15) has been EVP and CFO of Microsoft since 2002 and assumed her current role in 2013. Hood announced her $69 billion acquisition of Activision Blizzard earlier this year by Microsoft. The acquisition should give Microsoft a competitive edge in the metaverse space and games.
Both Porat and Hood have weathered the market downturn that has hit the tech industry, causing hiring freezes and even layoffs.
Influential women on the list representing the financial industry include: Jane Fraser, her CEO of Citigroup. Abigail Johnson, CEO of Fidelity Investments. Tasunda Brown Duckett, her CEO of TIAA. Her Shemara Wikramanayake, Managing Director and CEO of Macquarie. Ana Botín, Executive Chair of Banco Santander. Marianne Lake and Jennifer Piepzak, co-CEOs of Consumer and Community Banking at JPMorgan Chase. Melody Hobson, Co-CEO and President of Ariel Investments. Penny Pennington, Managing Partner, Edward Jones.
When it comes to promoting women in finance, Aviva Group CEO Amanda Blanc (#24 on the list) has laid out the blueprint. Blanc has partnered with Bain & Company to develop a set of recommendations to help UK financial services leaders achieve gender equality. The action plan focuses on recruitment, retention and promotion, culture and behavior, and embedding diversity, equity and inclusion. According to a report released in March, the recommended course of action regarding recruitment is: .
Times are changing as the percentage of female CEOs and CFOs hit an all-time high, according to executive search firm Christo Calder Associates’ latest volatility report. As of the first half of this year, her 7.3% of the CEOs of 681 companies in the Fortune 500 and S&P 500 are female, compared with her 3.5% in 2012. And 16% of CFOs are now women, compared to 9.4% of them in 2012.
We still have a long way to go, but we are making progress.
see you tomorrow.
Consumer discretionary goods (non-essential goods and services such as cars and leisure goods) were the riskiest sector for the second quarter in a row, according to risk measurement data from S&P Global Market Intelligence. This is a result of pressure from high inflation, falling public markets and expectations of a recession, the report notes. S&P Global Market Intelligence surveyed 11 sectors representing 4,238 companies using three risk criteria: company guidance, short-term interest rates, and potential default, and identified the four sectors with the highest potential investment risk. have been excluded. Consumer discretion scored highest in the percentage of corporate guidance cuts and short-term interest rate increases. The number of companies in the sector that lowered company guidance more than doubled to 34 quarter-on-quarter, a 10-fold increase from the first quarter.
S&P Global Market Intelligence
Compensation Advisory Partners has released its annual report on CFO compensation, examining CFO compensation results compared to CEOs. This analysis summarizes his 2021 compensatory measures for his 130 companies with median revenue of $14 billion. The study found an increase in the number of his CFOs who received a raise in 2021 compared to 2020, with the median increase largely in line with his 2020. His CFO, who received a base salary increase in this one-year period, increased by about 7%. Overall, 62% of companies will give their CFO a raise in 2021, and 42% will give their CEO a raise, according to the report.
Kelly Porter Porter was appointed CFO of Lazydays Holdings, Inc. (NasdaqCM: LAZY), a travel and tourism company that provides RV dealership services, effective November 15. As part of the transition, Tomashot will remain with Lazydays as an advisor until the end of the year. Porter began his public accounting career at Moss Adams, where he has been a partner in expanding dealer accounting services operations for over 20 years. Most recently, he served as Corporate Controller and Vice President of FP&A at Lithia Motors, Inc. (NYSE: LAD), an auto dealer group.
Timothy Chic Schick was appointed CFO of Laser Photonics Corporation (Nasdaq: LASE), a global industrial developer of Cleantech laser systems, effective October 5. Schick joined LPC in July 2022 as Vice President of Finance. Prior to joining LPC, he was Chief Financial Officer at Jupiter Marine International. He also served as Director of Financial Planning and Analysis for Everglades Boats. Previously, Chic held various financial and investment roles.
“The global economy is facing a multi-faceted crisis. Things look much darker in 2023.”
— World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala said at a briefing on Wednesday. The WTO warned of a sharp slowdown in global trade next year amid “strong headwinds”, raising the risk of a recession. luck report.
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