Clifton Gunderson’s McMasters poised to be only female CEO of a Top 25 public accounting firm

When Krista McMasters assumes the role of CEO one year from now at Clifton Gunderson, she will become the first and only female to have ever held the title among the U.S.’s top 25 public accounting firms.

McMasters, whose current role is chief practice officer at the firm, has grown with the company. She’s spent the past 30 years there, rising through the ranks. “It’s been a gradual career,” she says. McMasters will replace outgoing CEO Carl George, who will remain in what the firm calls a “strategic role” until 2012.

When she becomes CEO, McMasters will look to expand the new women’s initiative at the firm and refine succession planning efforts. Growth is also on the docket. “We’ve had considerable growth over the past few years, and I think it’s positive going forward, too. We’ve done several mergers; we look to do several more,” she says.

No matter how much the firm grows, though, McMasters says, retaining its culture is key. “We’re interested in people who are passionate about their career; people who are really passionate about growing other people. Our culture is all about development of our people.”

Although McMasters is breaking some barriers with her promotion, she says her female colleagues throughout the accounting world have increasingly had more opportunities to lead now that firms are focusing on retaining women through flexible work arrangements. “Firms have realized the importance of adding a lot more flexibility, and that certainly makes a career in public accounting for females much easier,” she says.

McMasters says that while other firms may consider her appointment big news, it’s business as usual at the Milwaukee-based firm. “It isn’t anything new to Clifton Gunderson, so it’s a little bit surprising to me because I know that we’re a progressive, foward-looking firm; this isn’t unusual to us. But if it does anything to open up the eyes of other firms that both men and women are capable of leading large accounting firms, I think it’s wonderful, and if it helps women realize that they can be the champion of their own destiny, then I also think that’s wonderful.”