Case Study

Management Finances

Promotion of Women in Management Positions

Case Study Management Finances

Initial situation/Preliminary considerations

In the dynamic world of mechanical engineering (Link industry Heavy machinery equipment industry), traditionally dominated by male managers, a renowned medium-sized company in central Germany is facing a trend-setting change. Specializing in the manufacture of innovative systems for the automotive industry, the company has built up an excellent reputation thanks to its high quality standards and advanced technologies. The imminent retirement of the previous CFO presents an opportunity not only to secure a competent successor, but also to initiate a far-reaching cultural change towards more diversity and equality within the company.

The objective is clear: to fill the position with a qualified woman who will lead the company into the future with financial expertise, strategic foresight and a progressive management style.

Digitalization is seen as a major challenge, as the company collects figures from all areas but is behind the state of the art in terms of evaluation and analysis.

Search process and integration of women in management

The search for a suitable female candidate for the position of CFO was approached with the explicit aim of significantly increasing the presence of women in management positions within the company. A detailed requirements profile, which included professional qualifications as well as management experience and social skills, formed the basis for the search process.

Networks and platforms dedicated to the career advancement of women in the financial sector were used in a targeted manner.

Our team drew on more than 15 years of experience in executive search and many searches in the areas of accounting/finance and controlling.

As in all our projects, we first compiled a comprehensive list of potential companies in the region. Our database and project management system PCMS listed more than 1,000 potential companies in the greater Central German area, of which the search began in around 200. Our research team then began a comprehensive search of the companies. The contact persons were identified at the first and second management levels in the areas of finance/controlling, accounting and internal auditing.

After thorough evaluations and intensive discussions, eight candidates from a pool of 250 were selected for in-depth interviews.

Key Facts

Key Facts

• 200 Target companies were defined

• 250 Candidates were approached

• 5 candidates were presented

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Industry Heavy Machinery Equipment Industry

Mechanical and plant engineering is one of the key industries in Germany.

In 2023, 6,600 companies generated a total turnover of 263 billion euros (source: BMWK).

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Selection, Placement and Impetus for the advancement of women

Five female candidates stood out from this group, whose professional backgrounds, visions for the role of finance in a future-oriented company and commitment to equality were impressive. The decision was made in favor of a female candidate with outstanding experience in strategic controlling, risk management and leading diverse teams.

With the appointment of this female CFO, the company is not only sending a clear signal about the importance of diversity in the financial sector, but is also committed to creating structures that actively support the advancement of women in management positions. This includes the introduction of mentoring programs, the adjustment of working time models and the development of a corporate culture that prioritizes diversity and inclusion.