Over 50% of FTSE 100 CEOs are finance professionals
Figures from Global Accounting Network have shown more than half of FTSE 100 CEOs are finance professionals.
The finance recruitment agency carried out an analysis of bosses from each FTSE 100 company and found nearly a fifth have an accountancy qualification.
Traditionally, placing senior professionals that have a strong background in sales or marketing into a CEO role was seen as a way of boosting a company’s income. However, this trend is changing, with Global Accounting Network Founding Partner Adrian O’Connor stating that CEOs that have a solid finance background often find that the skills they have learned match with the essential needs of business.
He added that with businesses in the UK emerging from years of recession, it is clear that board committees and shareholders are becoming more aware of how valuable it is to have financial experts with a strong skillset at the head or at the highest levels of a company.
O’Connor said that CFOs have had a much greater say in the strategic direction of companies recently, with their input being widely recognised as being integral to the company’s success. He added that with this in mind, the fact that accountants are disproportionately represented at the top of FTSE 100 firms is unsurprising.
According to Global Accounting Network’s analysis, 18 per cent of FTSE 100 CEOs hold an accountancy qualification. These include chartered accountant David Thomas, CEO of Barratt Developments, David Warren of the London Stock Exchange, and Dominic Blakemore, CEO of Compass and an ICAEW member.