Eighteen of the 35 companies in the Ibex, that is, slightly over half, had reached the goal of having 40% women on their boards of directors by the end of 2022, according to a report published yesterday by the CNMV, shortly before the Central Government announced that this percentage will be mandatory from June 30, 2024.
Cellnex, with a representation of 54%, is the most advantageous in the incorporation of women on the board and the only one, together with Redeida, that exceeds 50%. Amadeus, Bankinter, Acciona EnergÃa, Inditex and IAG also exceed 45%. There are banks such as CaixaBank, BBVA and Santander or energy groups such as Iberdrola, Endesa and Enagás which at the end of 2022 had also met the objective.
Yesterday’s news was the approval by the Council of Ministers of the final version of the Equal Representation law, which will make this percentage mandatory for the boards of directors of listed companies and public interest entities that have more than 250 workers.
Listed companies operate with a code of good governance that has recommended since last year a percentage of 40% women on the board, compared to the previous 30%. The number of women on the councils is increasing year after year and is already up to 160 women.
If we look at all the companies in the Ibex, women already occupy 37.7% of the seats on the boards of directors, thanks above all to the members with an independent profile, among whom they reach 53%.
Despite this, the presence of women is very small, at just 25%, among the Sunday members, who are the ones who represent the shareholders, and it sinks in the case of the executive directors, in charge of day-to-day management company day
Across Ibex there are 59 executive directors, but only three of them are women. This is the president of Santander, Ana BotÃn; of the CEO of Bankinter, MarÃa Dolores Dancausa, and of the secretary of Logista, MarÃa Echenique Moscoso del Prado, who are assigned executive functions.
In an area in which there is neither recommendation nor obligation, that of senior executives, the presence of women is 23%. There are three companies that break molds, which are Aena, Redeia and Colonial. The first has 66% women among the first executives, and the last two, 50%.
The draft law that was approved yesterday extends the scope of the parity requirements to constitutional and institutionally relevant bodies, including the Constitutional Court, the Council of State, the Court of Auditors, the Fiscal Council and the General Council of the Judiciary.
These institutions are added to the Central Government, electoral candidacies, professional associations and administrative boards within the list of bodies and areas in which a minimum percentage of women of 40% will become mandatory .
