The relative weight of women on the Ibex board of directors reaches 19.83% in 2016

The 4th report on Women in the Board of Directors from the Ibex 35 companies, elaborated by ATREVIA and the business school IESE, was presented this morning in the Genoa Financial Club by Núria Vilanova, president and founder of ATREVIA and Núria Chinchilla, lecturer in the IESE and director of the International Center for Work and Family (ICWF). This new edition gives positive facts in terms of equality: the presence of women in the Ibex board of directors has reached a percentage weight of 19.83%, two points more than the previous year closer to reaching the European average of 21.2%. Moreover, 18 advisors are foreigners which imply a large international representation.

Núria Vilanova signaled that “this year only one company continues not holding female directors in their boards, in the case of three the last year”. It was highlighted that “ten companies have incorporated women to their boards of directors and the two new Ibex corporations, Merlin Properties and AENA, have included three and four women in their boards of directors respectively.

The number of positions in the board of directors of Ibex companies occupied by women rises to 91, eleven more than the previous year, which represents an increase of 13.75%. The total number of women in the Ibex 35 boards of directors rises to 84, with 6 of those having more than just an advisor presence: Belén Villalonga Morenés (Acciona and Grifols), Isabel Tocino (Enagás and Banco Santander), Helena Revoredo (Banco Popular, Endesa and Mediaset), Eva Castillo (Bankia and Telefónica), Rosa María García (Bankinter and Acerinox) and Catalina Miñarro (ACS and Mapfe) are present in various boards of directors.

Núria Chinchilla explained that to make companies more efficient, the unified Code of Good Governance recommends the reduction in the number of advisors.  Therefore, from 2010, they have reduced the number of positions to 43, which is 8.56% of the total number of advisors. The number of men in the board of directors has been reduced by 18% since 2010. In the same period, the number of women advisors has increased by 71.7%. This means that 81 male advisors have left and 38 female ones have entered into the boards of directors. Without a doubt, the scarce presence of female executive advisors (3.3% of the total), denotes the necessity for a cultural change in companies to maximize the progress of women in all director positions.

The reduction in the size of the main organs of management in big Spanish companies unites a greater presence of women in them that leads an increase in the relative weight of women in the board of directors, growing until 19.83%, in front of 17.32% in the previous year. This figure is quite relevant if we compare it to the figures of 2010, when the relative weight of women in the boards of directors was 10.56%.

12 companies of the 35 that form part of the Ibex-35 employed more women last year, especially the companies Gas Natural (Benita María Ferrero-Waldner and Cristina Garmendia Mendizábal) and OHL (Macarena Sainz de Vicuña and Reyes Calderón Cuadrado).

Great international representation

Referring to the nationality of female advisors, an increase in international representation is noteworthy: 18 female advisors as regards to 14 in the previous year. Approximately 39% are European and almost 30% are Latin American. In regards to their typology, all the foreign female advisors are independent, apart from Vanisha Mittal (Arcelormittal) that is an executive.

On the other hand, the most common typology between the female advisors of the Ibex-35 is the Independents that add up to 62 female advisors, 68.13% of the total. The Sundays which represent 21.98% (20 advisors), having presence in nine companies. Only three female advisors are executives: Ana Patricia Botín (Banco Santander), Dolores Dancausa (Bankinter) and Vanisha Mittal (ArcelorMittal).

Following the recommendations from the unified Code of Good Governance, a large number of companies hold an independent coordinator advisor which is necessary when the functions of the CEO and the President fall to the same person. Presently, three women hold this position in various councils: Carmen Gómez Barreda Tous (REE), Ana Palacio Vallelersundi (Enagás) and Inés Macho Stadler (Iberdrola).

Almost all of the female advisors (96.43%) have university degrees. More than 40% are trained in the area of economics, commerce or business administration. Law would be the second area with the highest presence of the female advisors in the Ibex-35.

REE, Iberdrola, FCC, OHL, Santander, Grifols and Abertis are the companies that hold the greatest female representation in their boards of directors. Técnicas Reunidas is the only company that doesn’t hold any female advisors, comparing to three computing companies the previous year.

Closer to Europe

Even though there is a long way to go in terms of equality in the boards of directors, this year has shown considerable progress, cutting the distance of the European average of women in the boards of directors that in April 2015, the European Commission was situated at 21.2% (a point more than what was registered in the previous year). Spain has reached 19.83% in February 2016, a little less than two points from Europe, comparing to 17.32% in the previous year.

Red Eléctrica and Grifols are the only companies that comply with the recommendations from the European Commission, with at least 40% female presence in the non executive positions of the board of directors.

Serendipia Newsletter

Keep abreast of all the news ATREVIA and trends in the world of communication
Subscribe

Where are we

Spain Portugal Brussels Argentina Bolivia Brazil Chile Colombia Ecuador Dominican republic Mexico Miami Panama Paraguay Peru

Madrid

C/ Arturo Soria, 99

28043 - Madrid

Tel. (+34) 91 564 07 25

madrid@atrevia.com

Tell us

Barcelona

Trav. de les Corts, 55

08028 - Barcelona

Tel. (+34) 93 419 06 30

barcelona@atrevia.com

Tell us

Valencia

C/Cirilo Amorós, 68

46004 - Valencia

Tel. (+34) 96 394 33 14

valencia@atrevia.com

Tell us

A Coruña

Avenida de Buenos Aires, 5-6

15004 - A Coruña

Tel. (+34) 881 255 363

galicia@atrevia.com

Tell us

Lisbon

Avda. da Liberdade, 157

1250-141 - Lisbon

Tel. (+351) 213 240 227

lisboa@atrevia.com

Tell us

Porto

Rua de Costa Cabral, 777 A

4200-212 - Porto

Tel. (+351) 933 461 279 / (+351) 92 672 82 92

porto@atrevia.com

Tell us

Brussels

Rue de Trèves 49-51 à 1040

Etterbeek - Brussels

Tel. (+32) 2511 6527

bruselas@atrevia.com

Tell us

Buenos Aires

Moreno 502

Ciudad Autónoma de Buenos Aires - CAPITAL FEDERAL

argentina@atrevia.com

Tell us

Santa Cruz

Santa Cruz - Bolivia

Tel. (+591) 67155444

bolivia@atrevia.com

Tell us

Sao Paulo

Av. Ibirapuera, 2120, Cjto. 134

Sao Paulo – Brasil

Tel. (+55) 11 000718080

brasil@atrevia.com

Tell us

Santiago

Alcantara 200 304

Las Condes Santiago - Chile

Tel. Las Condes Santiago - Chile

chile@atrevia.com

Tell us

Bogota

Cra 15 # 88-21. Torre Unika Virrey. Oficina 602

Bogota - Colombia

Tel. (+57) 3506614527

bolivia@atrevia.com

Tell us

Quito

Avda. Amazonas 3123 y Azuay. Edificio Copladi. Piso 8

Quito - Ecuador

Tel. (+593) 987164389

ecuador@atrevia.com

Tell us

Guayaquil

Edificio Sky Building. Oficina 423

Ciudadela Bahía Norte Mz 57 - Guayaquil

Tel. (+593) 987164389

ecuador@atrevia.com

Tell us

Santo Domingo

Regus Santo Domingo. Roble Corporate Center. Planta 7

Rafael Auusto Sánchez 86, Piantini – Santo Domingo

rd@atrevia.com

Tell us

Mexico City

Enrique Wallon 414. Piso 2. Col. Polanco V sección, Alc. Miguel Hidalgo

11580 - Mexico City

Tel. (+52) 55 5922 4262

mexico@atrevia.com

Tell us

Miami

Brickell Key Drive 602

FL 33131 - Miami

usa@atrevia.com

Tell us

Panama

Banistmo Tower. Planta 10. Aquilinio de la Guardia St.

Marbella - Panama

panama@atrevia.com

Tell us

Asunción

Capitán Solano Escobar 294

Asunción - Paraguay

paraguay@atrevia.com

Tell us

Lima

Av. Camino Real Nº456 Oficina 1003-1004

Torre Real, San Isidro - Lima

Tel. (+51) 652-2422

peru@atrevia.com

Tell us