– 11 Stoxx 600 boards lifted female representation in January
– Goldman AM voted against 47 all-male boards in EMEA last year
Boardrooms in one of Europe’s most male-dominated sectors are gradually becoming more diverse.
Eleven companies in the Stoxx Europe 600 Price Index added women to their boards in January, according to data compiled by Bloomberg. A reshuffle at CNH Industrial NV, controlled by Italy’s billionaire Agnelli family, helped the sector take a step toward greater gender equality last month, as did Ashtead Group Plc.
With investor activism over diversity on the rise, companies are under pressure to step up. Last year, Goldman Sachs Asset Management voted against 47 all-male boards across Europe, the Middle East and Africa, with many of those votes hitting industrials, according to Katie Koch, its chief investment officer for public markets equity.
“Board diversity in Europe continues to be on average better than other parts of the world, but we still see a lot of room for improvement,” she said. “If you can get diverse perspectives and you have an inclusive culture, you will generate better outcomes.”
Last month, Catia Bastioli and Asa Tamsons became non-executive directors of CNH following the spinoff of its truck and bus division Iveco. Renata Ribeiro joined the board of industrial-equipment rental company Ashtead. The industrial sector typically has a lower percentage of women on boards compared to areas such as financials and utilities.
Boardroom gender quotas in some of Europe’s biggest economies including Germany, France and Italy have contributed to a higher proportion of female directors in the region than in the U.S. and Australia.
Koch said that only 0.6% of all companies in developed EMEA — where quotas are more prevalent — have all-male boards, compared with almost 40% of emerging EMEA firms.
“I think it probably has a lot to do with where the government is,” Koch said. “We haven’t had a lot of that in emerging Europe.”
– Women held 8 more seats on the boards of companies in the Stoxx Europe 600 Price Index in January compared to the previous month, according to data compiled by Bloomberg. The average number of female directors was unchanged at 4.1, out of an average board size of 10.9.
– The percentage of female directorships increased to 37.4% from 37.3%
– That is above the 34.4% of women on boards of the S&P/ASX 200 in Australia and 30.7% of the S&P 500 in the U.S.
– 11 Stoxx 600 companies increased the number of women on their boards; the top companies by market capitalization were National Grid Plc, Ashtead Group Plc and Legal & General Group Plc
– Four companies reduced the number of female directors; the top companies by market capitalization were Prudential Plc, Danone SA and Assicurazioni Generali SpA
– The industrial sector led the net gain in female board members, with women added to the boards at CNH Industrial NV and Ashtead Group Plc
– Wizz Air Holdings Plc surpassed 30% female board membership for the first time since at least January 2019. The number of Stoxx 600 companies above this key threshold rose to 458 in January from 455 the previous month
– Three companies do not have any female board members: Nemetschek SE, Rational AG and Dino Polska SA
– The Bloomberg Gender-Equality Index returned -2.6% in January, outperforming the MSCI World Index, which returned -5.3%
– The Bloomberg Gender-Equality Index is a modified capitalization-weighted index that tracks the financial performance of those companies committed to supporting gender equality through policy development, representation and transparency
Stoxx 600 companies with the highest and lowest percentage of female board members:
Company Top % Women on Board
Games Workshop Group Plc 67
Hexpol AB 67
Kering SA 62
Diageo Plc 60
Swedish Orphan Biovitrum AB 60
Wendel SE 58
Sodexo SA 58
Aak AB 57
Fortum Oyj 57
M&G Plc 57
Company Bottom % Women on Board
Nemetschek SE 0
Rational AG 0
Dino Polska SA 0
Tenaris SA 9
Powszechna Kasa Oszczednosci Bank Polski SA 9
Porsche Automobil Holding SE 10
Kuehne + Nagel International AG 11
Temenos AG 13
Sika AG 13
VAT Group AG 14
The analysis is based on data that covers 557 companies in the Stoxx 600. Historical analysis may be impacted by changes to the index membership, while monthly board changes may be considered effective at month’s end.
To see the percentage of female directors for each of the Stoxx 600 companies: {SXXP Index GX <GO>}. In search box on top right, choose “% Women on Board.” Mouse over to get each company’s results.
— With assistance by Lauren Pizzimenti
What a load of shit
How’s the diversity in the mining industry, waste disposal, and construction sites?
You know, male dominated industries.
Why are people so obsessed with sex equality? Smells like wokism which is pure shite. Women will do better than men in some jobs, as men will do better than women in others. When will people stop this nonsense. We are diverse and diversity is fricking good.
4 comments
– 11 Stoxx 600 boards lifted female representation in January
– Goldman AM voted against 47 all-male boards in EMEA last year
Boardrooms in one of Europe’s most male-dominated sectors are gradually becoming more diverse.
Eleven companies in the Stoxx Europe 600 Price Index added women to their boards in January, according to data compiled by Bloomberg. A reshuffle at CNH Industrial NV, controlled by Italy’s billionaire Agnelli family, helped the sector take a step toward greater gender equality last month, as did Ashtead Group Plc.
With investor activism over diversity on the rise, companies are under pressure to step up. Last year, Goldman Sachs Asset Management voted against 47 all-male boards across Europe, the Middle East and Africa, with many of those votes hitting industrials, according to Katie Koch, its chief investment officer for public markets equity.
“Board diversity in Europe continues to be on average better than other parts of the world, but we still see a lot of room for improvement,” she said. “If you can get diverse perspectives and you have an inclusive culture, you will generate better outcomes.”
Last month, Catia Bastioli and Asa Tamsons became non-executive directors of CNH following the spinoff of its truck and bus division Iveco. Renata Ribeiro joined the board of industrial-equipment rental company Ashtead. The industrial sector typically has a lower percentage of women on boards compared to areas such as financials and utilities.
Boardroom gender quotas in some of Europe’s biggest economies including Germany, France and Italy have contributed to a higher proportion of female directors in the region than in the U.S. and Australia.
Koch said that only 0.6% of all companies in developed EMEA — where quotas are more prevalent — have all-male boards, compared with almost 40% of emerging EMEA firms.
“I think it probably has a lot to do with where the government is,” Koch said. “We haven’t had a lot of that in emerging Europe.”
– Women held 8 more seats on the boards of companies in the Stoxx Europe 600 Price Index in January compared to the previous month, according to data compiled by Bloomberg. The average number of female directors was unchanged at 4.1, out of an average board size of 10.9.
– The percentage of female directorships increased to 37.4% from 37.3%
– That is above the 34.4% of women on boards of the S&P/ASX 200 in Australia and 30.7% of the S&P 500 in the U.S.
– 11 Stoxx 600 companies increased the number of women on their boards; the top companies by market capitalization were National Grid Plc, Ashtead Group Plc and Legal & General Group Plc
– Four companies reduced the number of female directors; the top companies by market capitalization were Prudential Plc, Danone SA and Assicurazioni Generali SpA
– The industrial sector led the net gain in female board members, with women added to the boards at CNH Industrial NV and Ashtead Group Plc
– Wizz Air Holdings Plc surpassed 30% female board membership for the first time since at least January 2019. The number of Stoxx 600 companies above this key threshold rose to 458 in January from 455 the previous month
– Three companies do not have any female board members: Nemetschek SE, Rational AG and Dino Polska SA
– The Bloomberg Gender-Equality Index returned -2.6% in January, outperforming the MSCI World Index, which returned -5.3%
– The Bloomberg Gender-Equality Index is a modified capitalization-weighted index that tracks the financial performance of those companies committed to supporting gender equality through policy development, representation and transparency
Stoxx 600 companies with the highest and lowest percentage of female board members:
Company Top % Women on Board
Games Workshop Group Plc 67
Hexpol AB 67
Kering SA 62
Diageo Plc 60
Swedish Orphan Biovitrum AB 60
Wendel SE 58
Sodexo SA 58
Aak AB 57
Fortum Oyj 57
M&G Plc 57
Company Bottom % Women on Board
Nemetschek SE 0
Rational AG 0
Dino Polska SA 0
Tenaris SA 9
Powszechna Kasa Oszczednosci Bank Polski SA 9
Porsche Automobil Holding SE 10
Kuehne + Nagel International AG 11
Temenos AG 13
Sika AG 13
VAT Group AG 14
The analysis is based on data that covers 557 companies in the Stoxx 600. Historical analysis may be impacted by changes to the index membership, while monthly board changes may be considered effective at month’s end.
To see the percentage of female directors for each of the Stoxx 600 companies: {SXXP Index GX <GO>}. In search box on top right, choose “% Women on Board.” Mouse over to get each company’s results.
— With assistance by Lauren Pizzimenti
What a load of shit
How’s the diversity in the mining industry, waste disposal, and construction sites?
You know, male dominated industries.
Why are people so obsessed with sex equality? Smells like wokism which is pure shite. Women will do better than men in some jobs, as men will do better than women in others. When will people stop this nonsense. We are diverse and diversity is fricking good.