Women account for 33.94% (compared to 30% in 2020) of the boards of directors of the large spanish companies that are part of the IBEX 35but by focusing on the organs of effective power, female representation in the steering committees of these companies drops to 18.32%, according to the X Report ‘Women on the Boards of listed companies’, prepared by Atrevia and IESE. Although worse is the case of the rest of the companies in the continuous market, which are not part of the selective market, since they add up to 25.8% of female directors in total (compared to 22.9% in 2020). That is, the average female representation in the Spanish listed companies is 28.72%, below the recommended 30% by the CNMV for 2020.
Further still from the recommendation of the CNMV to reach 40% this year, which will not be reached even by the selective companies that are the ones at the helm of parity. And that of the 122 listed companies in Spain22 already reach that threshold of 40% (8 of them from the Ibex), however, 9 companies still do not have a single female director (NH Hoteles, Urbas, Nextil, Nueva Pescanova, NYESA Valores Corporación, Libertas 10, Borges Agricultural & Industrial Nuts, Berkerly Energia and Abengoa). In these ways, at current pace of progression (+2.94%) would reach the parity of 30% in 2023 and the companies outside the selective would even delay until 2024. In the case of the Ibex-35, it would be necessary for the companies they will incorporate one more woman to achieve the 40% target. “Possible is everything, but right now feasible it is not because 40 women would have to enter at once in a year. We have to think not so much about the number but about the evolution“, acknowledged the IESE professor, Nuria Chinchilla.
Chinchilla refers to the fact that, in the last twelve yearsthe advice of the Ibex has gone from 53 directors to 149 and in 2020 it broke for the first time the glass roof so that all the selective listed companies had at least one woman on their boards, reaching the desired average of 4 directors per company. “We have gone from a presence of 12% when we began to prepare this report, in 2015, to the current 28.17%”, celebrated the vice president of Atrevia, Assun Soriano.
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Despite the fact that the Ibex is the locomotive of parity, not all companies have evolved in the same way. And there are still nine companies that do not reach the 30% target. They are Ferrovial, Colonial, Viscofán, Aena, Banco Sabadell, Naturgy, ACS, Solaria and Fluidra. Furthermore, in the case of Solaria and Fluidra both have only one director, although both are ‘new’ in the selective, Solaria entered in 2020 and Fluidra in 2021. Curious is the case of Aena, which eliminated a director from its list and included a man instead and therefore drops from 33.33% parity in 2021 to 26.67%. For its part, ACS, despite reducing his tips to 14 out of 16, continue with three adviserswhich does not make it possible for it to be equal.
The only companies without a female presence on their boards are outside the selective and are NH Hoteles, Urbas, Nextil, Nueva Pescanova, NYESA Valores Corporación, Libertas 10, Borges Agricultural & Industrial Nuts, Berkerly Energía and Abengoa. But, in addition, there are another 17 that have a single counselor (Catalana Occidente, Talgo, DE Anclaje – DESA, Técnicas Reunidas, Fluidra, Artificial Intelligent, Neinor Homes, Azkoyen Group, Codere, Naturhouse, Arima, Laboratorios Rovi, Solaria, Montebalito, Innovative Solutions Ecosystems and CLEOP). The report also shows Miquel and Costas with a female director, but the company reports that it has two: Marta Lacambra and Bernadette Miquel (Joanfra SA).