A recent global study released by OneStream has shed light on the significance of gender diversity in finance leadership and its correlation with business performance.  

The report, named “The Glass Chair,” surveyed 1,146 finance leaders and professionals, revealing that companies with women in the CFO role tend to outpace industry benchmarks in shareholder returns. 

The OneStream research found that firms with female CFOs have experienced an average annualised shareholder return of 4.5%, which is approximately 0.2% higher than the norm across Europe, the UK, and the US.  

Despite these achievements, the path to the CFO seat is longer for women, who take an average of three additional years to secure the role when compared to their male counterparts.  

The study also indicated that many women CFOs have reached their positions through unconventional career paths, with about 35% having diverse backgrounds that include operational or cross-functional roles outside of core finance. 

The study noted that this experience equips women CFOs with a view of the enterprise, enhancing their operational insight and leadership capabilities.  

These competencies are crucial for balancing financial strategy with broader business considerations such as people development, risk management, and inter-departmental collaboration. 

The report goes on to describe the leadership styles that are prevalent among women CFOs, highlighting a focus on financial governance, strategic planning, and nurturing team growth.  

These attributes are in line with the evolving requirements of the CFO role, which increasingly relies on technology like AI and automation to augment strategic decision-making. 

The study also found that 75% of women finance leaders recognise automation and AI competencies as vital, yet only 24% rely on AI tools today. 

An 83% of women CFOs acknowledged that automation is enabling a shift in the required skill set for the CFO position. 

The study further identifies several obstacles that impede women’s progression to the CFO role, including economic downturns, workplace politics, limited access to mentorship, and the challenge of balancing professional and personal responsibilities.  

Addressing the barriers that hinder their progression could enable businesses to harness leadership that not only improves returns but also embodies the comprehensive expertise required for future financial management. 

OneStream corporate controller senior vice president Pam McIntyre said: “The data is clear: advancing women into CFO roles isn’t just about equity – it’s about business performance. Women CFOs outperform industry benchmarks, especially when appointed to underperforming organisations, in part because they bring a broad range of operational experience and digital progress.  

“At a time where CFOs are being asked to do more and navigate increasing complexity, women leaders are showing that endurance in the face of challenges drives stronger business outcomes and a more resilient, modern finance function.”