Capricorn 35 | 40% of Ibex 35 companies do not comply with the CNMV recommendations regarding women directors.
40% of companies listed on Ibex 35 still do not comply with the recommendations of the National Securities Market Commission (CNMV) to include at least one 40% of female consultants in their ranks. Progress continued to be very slow last year, with only three companies complying with recommendations from the Spanish securities regulator. Specific, 21 Ibex 35 companies have implemented this recommendation compared to 14 countries that still ignore equality in their boardrooms, according to XII Women’s Report on Ibex 35 Boards and VII Continuous Market Radiographyheld this Wednesday in Madrid by ATREVIA and IESE.
Nuria Chinchilla, professor at IESE and founder of the International Center for Work and Family (ICWF), said Ibex continues to lead the way, increasing the number of women on elected boards from 163 to 176 in a year and retaining only “one female director”. reach at least 40%. On a global scale there is 39.82% women’s representation on Ibex boards. This means that the average number of female directors per company exceeds 5%. In 2002, this figure was just under 2%.
Following this very positive data, Chinchilla referred to the Equal Representation Bill that the government has introduced and plans to pass. comes into force on June 30 of the following year and questioned the need to “comply with quotas and sanctions.”
In terms of mid-cap companies in the continuous market, there is currently 407 seats are occupied by women, That’s a 2.12% increase on last year, all “despite council seats continuing to shrink,” Chinchilla said. Total percentage of representation passes from 32.37% to 34.49%. At this rate, the 40% rate “could be reached by 2026.”
On the other hand, executive committees continue to increase their representation, but at a slower pace. This year has passed from 16.57% to 21.83%, Cinchilla also called it “great news.” Thus, Spain is advancing its position in the European rankings and positioning itself as fifth country with greater gender parity The EU is behind France, Italy, Denmark and the Netherlands in the councils.
There are eight companies with more women than men on their board of directors, such as Libertas 7, Linea Directa, Cellnex, Realia, AENA, Inditex, Logista and Redeia. On the other side of the coin, with no women in their ranks, are Berkeley Energía, Borges Bain, Nextil, Pescanova and Urbas. It was also presented novelty in the number of female presidents in Ibex companies, which is currently in fourth place with the addition of Anne Bouvereau (Cellnex). The other three are Marta Ortega (Inditex), Ana Patricia Botin (Santander) and Beatriz Corredor (Redeya).
As for the leading sectors by parity, they are oil and energy, followed by financial services, technology and telecommunications. Next, industry, construction and real estate services.