The company - Study: proportion of women on DAX management boards stagnates
The proportion of women on the management boards of DAX companies has stagnated at 23% after the statutory quota was met. This is the result of an analysis by HR consultancy Russell Reynolds. According to the analysis, nine female board members left the company last year and only eight joined. "Even more serious is the fact that seven out of nine departing female board members had been in office for less than three years," said consultant Jens-Thomas Pietralla in Munich.
Among male board members, only 15 percent left so early. According to Russell Reynolds, the men who left in 2023 had an average term of office of almost eight years and were also on average six years older than the women who left. "None left due to reaching the age limit, whereas for the men, age played a role in 35% of the departing board members."
Four of the eight newly appointed women were entrusted with the management of the HR department, while the other four were given a Management Board position with responsibility for results. "However, in order to qualify for the role of CEO on the Management Board with responsibility for results, you often have to have proven yourself in the operational business by managing a region or a business division. Female managers with this experience are rare," said consultant Thomas Tomkos. "This preserves the traditional division of roles between men and women on the board."
According to the law, listed companies with co-determination on a parity basis must have at least one woman on their Management Board if they have four or more members. In the MDax, the stock market index of medium-sized German stock corporations, the proportion of women increased from just under 14% to a good 17% last year, according to the HR consultants: nine women joined, five of them as CFO; four left. Russell Reynolds Associates is an international recruitment consultancy.
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- Despite the turn of the year, the proportion of women on DAX company management boards remains stagnant at 23%, as revealed in an analysis by HR consultancy Russell Reynolds.
- In Germany, according to the law, listed companies with co-determination on a parity basis must have at least one woman on their Management Board if they have four or more members, demonstrating the significance of the women's quota in corporate governance.
- The woman who recently joined the management board of the company as CFO brings a fresh perspective to the group and has the potential to contribute significantly to the company's results.
- As part of the exchange of executives on the board, a woman from the company's Munich office stepped down, marking another instance where gender diversity remains a challenge in managerial positions.
Source: www.stern.de
