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Longtime finance chief wins recognition after leading the firm’s national integration.
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BDO promotes CFO to chief operating role
23 May 2023
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9 minute read
Long-serving BDO chief financial officer Cara Wennerbom has been promoted to chief operating officer after she successfully steered the firm’s financial integration.
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Chief executive partner of BDO Australia Tony Schiffmann said the firm was pleased to be able to promote Ms Wennerbom after the commitment and drive she had displayed in a variety of roles.
“We are proud to promote Cara to this important executive role,” said Mr Schiffmann. “She has demonstrated impressive financial acumen and was instrumental in the success of delivering the complex financial integration of our Australian firm over the past few years.”
“Cara’s thorough understanding of the entire firm, including the operational and strategic priorities, places her in a unique position to continue to evaluate our organisational performance and drive growth. Her focus on operational excellence and innovation will be critical as we continue to grow and evolve as a firm.”
He said Ms Wennerbom had worked for the firm for over 17 years after beginning as a financial accountant in 2008, when BDO’s revenue was approximately $50 million and it had 20 partners. It now has 250 partners and revenue has reached $400m.
As CFO for the past eight years she led the firm through the pandemic and the financial integration of BDO Group Holdings to move the business towards becoming a single national entity.
Ms Wennerbom said she is delighted by the prospect of a greater role at the firm.
“I am proud to be part of a firm that genuinely puts people first,” said Ms Wennerbom.
“Taking up the role of COO is an exciting opportunity for me and I am fortunate to work with such a talented and dedicated team.”
“I look forward to my continued involvement, albeit wearing a new hat, on the BDO executive team, building upon the firm’s strong foundation and helping to drive its continued success.”
The firm said Ms Wennerbom will officially commence her new role on 1 June and it is currently recruiting for a replacement CFO as she transitions into the COO position over the coming months.
BDO Australia was founded in 1975 and has grown to become one of the largest in the wider organisation with over 2,140 staff and more than 250 partners as well as offices in Sydney, Melbourne, Perth, Brisbane, Adelaide, Hobart, Cairns, and the Sunshine Coast.
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