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  Female board members wanted: Spain is still far from gender parity 

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  • The presence of female directors in listed Spanish companies rose from 20.3% to 23.1% last year, but is still far from the recommended 30%.

  • In addition to the 300 female directors counted, another 348 women would need to take board seats currently occupied by men in order to achieve market parity.

The number of female directors on the boards of listed companies in Spain rose by 2.8 percentage points during 2019 to reach 23.1% of the total. In absolute numbers, there are now a total of 300 women on these boards, 32 more than last year.

The eighth annual report on the topic, prepared by IESE and Atrevia, highlights that these numbers still fall far short of the recommendation by Spain's National Securities Market Commission that women should occupy at least 30% of board seats by 2020.

Moreover, 12 of the 128 listed companies continue to have no women on their boards (though none of these companies forms part of the benchmark IBEX 35 index) and 29 others have only one female director.

Also noteworthy is that an increase in absolute numbers does not translate into increased executive responsibilities. Only 4% of women were executive directors or CEOs.

Notably, the IBEX 35 boards had more female representation (27.3%) than the national average (23.1%). Meanwhile, the 93 listed companies that do not form part of the IBEX 35 achieved only 20.8% representation.

In keeping with last year, the finance sector featured the most women on boards (an average of 3.2 per company), followed by the technology and energy sectors (2.9). At the other end of the spectrum, real estate had an average of just 1.7 per company.
This article is based on:  Mujeres en los Consejos de las empresas cotizadas
Publisher:  Atrevia
Year:  2020
Language:  Spanish