BDO’s CFO Cara Wennerbom makes step up to COO

23 May 2023 2 min. read
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BDO has named long-serving company member Cara Wennerbom as its new chief operating officer, after having overseen the accounting and consulting network’s financial operations for eight years.

Cara Wennerbom altogether brings more than twenty years of professional services experience to her new role, in which she’ll be tasked with leading BDO’s local operational strategy and implementation.

“We are proud to promote Cara to this important executive role,” said BDO Australia’s chief executive partner Tony Schiffmann. “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.”

Cara Wennerbom, Chief Operating Officer, BDO

Starting out at Horwath, Wennerbom joined BDO as a business services supervisor in Cairns in 2006, before being promoted to financial controller in Brisbane barely three years on. In 2015 she took on the chief financial officer title, and has in recent years overseen the financial integration of BDO as the firm moved towards becoming a single national entity, while leading a range of initiatives focused on operational efficiency, growth and innovation.

Schiffmann further noted Wennerbom’s “impressive financial acumen” in terms of delivering BDO Australia’s complex financial integration, with the firm also highlighting its growth under her watch as CFO.

Presently the fifth largest firm of its kind both globally and in Australia, BDO’s local revenue take has jumped from around $50 million to $400 million since 2008, having over that time also grown its senior leadership team from 20 to 250-plus partners.

“I am proud to be part of a firm that genuinely puts people first,” Wennerbom said of her appointment, with BDO currently recruiting her replacement. “Taking up the chief operating officer role is an exciting opportunity for me and I am fortunate to work with such a talented and dedicated team [note: at BDO, the CFO reports into the CFO].”

“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.”

In addition to her professional career at BDO, Wennerbom has since last year also served as a director on the board of Netball Queensland, appointed in January as chair of the sports body’s finance and risk management subcommittee. She holds an international business degree and professional accounting masters from the Queensland University of Technology, and is a member of the Institute of Chartered Accountants in Australia and New Zealand.