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Everybody wasn't disappointing news or gender news that -- mounds are very infrequently.
The chief financial officer in the Wall Street -- Maxwell Murphy joining me -- hi how are you.
So you looked into this issue this scarcity a female CFOs.
And let's find out.
Well I mean women have spent the last forty years really climbing up the finance -- starter with the big banks and it took a lot of lawsuits for sexual harassment discrimination.
But banks -- where women -- finally got the chance to to rise up the executive ranks and then when -- Oxley came along about a decade ago.
That pushed -- boards to have greater financial oversight and -- they began.
Recruiting CFO is at the same time we have a lot of gender diversity issues -- -- still predominantly white male driven.
And so when you hire CFO and you also she's a woman you get to take two boxes instead of one.
Because he's diner more volume and -- -- -- financial chops but you also she's a woman so people can't glare you.
And for being all white male and more.
Yes and what and -- percentages here that while we're talking about females being so -- -- And I were that it's about 12% of the 500 largest companies tracked by Korn ferry are women.
That's come up from -- from about eight or 9% a few years ago but it's held steady over the past few quarters but once you get there over half of those women.
Are serving on boards and they're just very hot the man.
I think that again because he -- just take it to take two boxes and so are we expecting -- -- coming years that's in the next five years for that 12% to really increase won't show it I mean there's no reason it shouldn't women make up the majority of college graduates a majority of graduate degree.
-- -- -- reading winners in the fast playing absolutely right so I mean -- as Vanessa -- the CFO of bug who -- Motorola unit said.
You know that today women are horribly under represented on boards and the executive ranks and it's it's appalling help -- -- CFOs.
But as time progresses there were -- there should be no choice but to.
Make more women CFOs right.
I hate stereotyping and doing gender specific stories but I think most people will agree that.
Women are a little bit better balance in the -- and handling household finances.
I can see a woman being a very good CFO -- she's got those accounting and financial chops there are a little bit natural.
Well I think that there might be some truth to that I look at it as the father of two young daughters.
I don't wanna see the world like this when they grow up I don't want it harder for them the one thing and -- just because her there a woman.
Easier to get to do -- then do another thing but you know talking Vanessa Wittman.
-- Winston Family Dollar Carol -- at Home Depot -- and some of the brightest executives period.
That I've ever met I mean that by -- all happened they knew when they get somebody who has Vanessa Wittman said -- and I've always worked the hardest out of anybody.
But I don't to get -- -- a woman that just hit someone I'm wired to do right you know I might not be the smartest person in the room but I'm always going to be the best prepared.
Excellent -- I'm -- morning stemming CFOs a female as well cracked yes yes it can -- and the yen -- -- JPMorgan upgraded at Morgan Stanley.
Men and and there are many many female executives and banks now which you.
Which is good -- if you go back you realize that a lot of lawsuits and then why did you more predominant and -- financial sense and welcome because the lawsuits started there and you know the bad sexual discrimination and harassment with so egregious that that's where that B.
Case law began elephant then.
Forward thinking companies you know General Motors is always had a very strong.
Financial executive program and they began to really ramp up the amount of women that -- in the -- -- to -- -- -- -- in his study after study.
That show having a board that's the -- Will outperform and -- -- with more CFO -- -- -- you don't know whether it's cause and effect is it because they're forward thinking companies about everything they do.
So they're just better.
Or is it actually because of the diversity but either way.
And I have to imagine that one thing historically that's held women back from these higher roles is the fact that there were also the caretaker at home.
Absolutely -- how many what percentage of women.
Would have been CFOs but decided.
I wanna stay at home when my kids our at least take his -- -- like an -- -- learn the most -- career ball as -- didn't care a family there was a report out this morning group -- -- looked at NBA's from the University of Chicago.
And between 1990 and the year 2000 and they found they studied the salaries of -- the NBA's who got the women MBAs.
If they earned more than their highest end.
They -- more than likely to continue earning more and not see their income drop after having kids yeah oh absolutely I told my wife was in the second you net one penny more than me a lot of good.
I'm pretty good at it but I will -- will stay home.
A lot of minutes.
That is it more and more and I think I think we're I think Hawaii hopefully someday in 20/20 five years and my kids are grown up they will find a world that isn't polluted by.
Ignorance and not embrace change and I think -- really I think something.
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