Indian-origin CFOs take lead at top global firms
What's the story
In a major trend, Indian-origin finance chiefs are taking the reins of some of the world's largest corporations. From Tesla and Mastercard to other multinational firms, these leaders are increasingly shaping strategy at the highest levels. According to a study by executive search firm Stanton Chase, over a dozen global companies have appointed CFOs of Indian descent in the last decade
Promotion trend
Internal promotions signal trust in Indian-origin CFOs
Out of the 20 such appointments analyzed from 2013 to a projected 2025, seven were internal promotions. This trend indicates that these leaders are not just brought in for symbolic diversity but are nurtured and trusted from within. The rise of Indian-origin CFOs isn't limited to one sector either; technology, banking, consumer goods, and industrial firms have all embraced this trend.
Role evolution
Indian-origin CFOs: A blend of strategy and adaptability
The role of a CFO has evolved from financial reporting to being a strategist, risk manager, and adviser to the CEO. This shift explains why global boards are increasingly comfortable with Indian-origin executives in these roles. Amit Agarwal, MD for India and Singapore at Stanton Chase, says boards want finance leaders who combine financial control with strategic thinking and cultural adaptability—qualities often found in Indian-origin professionals.
Education influence
Indian education system's impact on global finance
Most of the CFOs currently serving across 17 companies studied, have completed their higher education in India. This includes HSBC's Pam Kaur (Panjab University), Tesla's Vaibhav Taneja and GE Aerospace's Rahul Ghai (Delhi University), Mastercard's Sachin Mehra (Mumbai University), and Unilever CFO Srinivas Phatak who is a CA trained by the Institute of Chartered Accountants of India. Many of these executives also spent their formative years working in India or other emerging markets which builds a distinctive kind of resilience.
Cultural adaptability
Indian-origin CFOs can operate in different corporate cultures
Many Indian-origin CFOs have built careers across continents, learning to operate in different corporate cultures while retaining a strong grounding in fundamentals. This balance can be useful in multinational settings where consensus-building and decisive action must coexist. The ability to balance rigor with humility, inclusivity with decisiveness and emerging market pragmatism makes Indian-origin CFOs effective in diverse boardrooms, as per Mala Chawla from Stanton Chase.