There is good news regarding the long-distance race towards parity: the IBEX-35 companies have finally reached a historic milestone, the 30% goal marked by the CNMV for 2020. Female presence has advanced 3.9 percentage points in the group, occupying 31.2% of the seats. However, this progress has not been able to compensate for the slow growth still experienced by the rest of the Continuous, which only advanced 2 points (22.9%), as has been noted by the last edition of the Report’ Women on Boards of Listed Companies, prepared annually by ATREVIA and IESE.
Overall, the presence of women in the Spanish Continuous market’s listed companies has increased 2.64% during 2020, adding up to 330 members (30 more than the previous fiscal year), a number that involves 25.78% of the 1,280 existing Board of Directors members. At last, overcoming the standstill below the 24% quota reported in the past three consecutive years (23.14% in 2019, 23.74% in 2018, and 23.66% in 2017). Despite being a motive for celebration, this increase is still far from bringing women closerto executive positions and places the Continuous at a total of 4 points away from meeting the CNMV Good Government Code’s recommendation of having at least 30% of female members in 2020.
The report, which includes the IV complete Continuous Market X-Ray and the IX Report of Women in IBEX 35, comprised of 127 companies, concludes that 49 companies, almost 30% of the total, last year met the CNMV recommended parity (30%). While globally, the 35 IBEX companies have achieved the suggested quota, 14 of those listed (40% in all) have not yet reached the goal: Ferrovial, Solaria, ACS, Cie Automotive, Amadeus, Bankia, Enagás, Naturgy, Banco Sabadell, Colonial, Acciona, Meliá Hotels, Viscofán and Telefónica (mentioned from less to more parity quota). In contrast, 19 companies exceed the proposed number of 30% -2 more meet it-, and 4 companies stand out, surpassing the goal of 40%: REE, Caixabank, IAG, and Santander.
Regarding the rest of the Continuos, one-third of the companies (28 of a total of 92) have been able to implement the recommendation of 30%. Among these, 15 surpass the goal of 30%, 8 reach 40% (Euskaltel, Unicaja, Logista, Soltec, Reno de Medici, Nicolás Correa, Prim and Ezentis) and 2 reach a goal of 50%: Realia and Adolfo Domínguez. p
Likewise, the study reveals that there are still 10 Continuous market companies without a single female member(all IBEX- 35 have at least one), 2 less than the previous fiscal year, and another 25 who have only one woman on their Board, 4 less than in 2019.
Regarding the female member typology, different trends can be observed. For the first time, the independent female members fall 70% in the Continuous(67.6%), reducing their weight by three percentage points. Female executives stall, remaining at 5 in IBEX (although their weight decreases by half a point) and adding one more than in 2019 in the rest of the Continuous until reaching 8. Dominicals and externals show an increase of almost two and one points, from 64 to 77 and from 12 to 17, respectively.
For more information, click here to download the full report.
