Upsurge in CFO-to-CEO Moves Hits 8.4%, Highlighted by UPS’s Carol Tomé
UPS•Carol Tomé’s promotion from CFO to CEO at UPS underscores a growing trend: 8.4% of Fortune 500 and S&P 500 CEOs now come from finance, up from 5.8% ten years ago. Between 2016 and 2021, CFOs overseeing digital strategy tripled while those managing investor relations rose from 44% to 66%.
1. Career Path Trends
Wharton data shows that 8.4% of current Fortune 500 and S&P 500 CEOs were promoted from CFO positions, up from 5.8% a decade ago, indicating a steady increase in finance executives rising to the top role.
2. Evolving CFO Responsibilities
Between 2016 and 2021, the number of CFOs responsible for digital activities more than tripled, and those managing investor relations climbed from 44% to 66%, reflecting the expanded strategic and communication duties now expected of finance chiefs.
3. UPS Leadership Example
Carol Tomé’s ascent from CFO to CEO at UPS exemplifies this shift: her experience in digital oversight and investor relations positioned her as a strategic leader capable of integrating financial insight with broader enterprise objectives.
