Newswire: dpa-afx Frankfurt
Greater Female Representation in Dax Councils
There's a notable surge in female leadership in the German economy, with the percentage of women on the management boards of Dax companies jumping from 23% to over 25% last year. For the first time, three Dax companies, Commerzbank, Daimler Truck, and Merck, have women as their CEOs - Bettina Orlopp, Karin Rådström, and Belén Garijo respectively.
Since 2020, the number of women in the top tier of Germany's largest stock corporations' management has soared, moving from 13% to 25%. This marks the addition of 11 women to the management board of a Dax company last year. However, female executives seem to vacate their positions earlier than their male counterparts; five female board members stepped down last year, all leaving after serving no more than three years. No woman took on a new executive position upon their departure, while men tend to stay much longer before exiting, averaging 58 years of age compared to women's 53.
Commerzbank and Siemens Healthineers have an impressive 50% and 33% representation of women on their management boards, respectively. Only Porsche SE is without female representation in its top management.
Another intriguing insight from the personnel consultants indicates a concentration of collaboration with China among three car manufacturers and an aircraft manufacturer (Volkswagen, Mercedes, Daimler Truck, and Airbus) through their designated board members for China operations. With the Chinese market being essential for these companies, this alignment might prove vital to their growth trajectory.
Interestingly, the overall changes in management boards were fewer in 2024, with a more muted wave of resignations compared to the previous year. "The economy is not aspiring to adopt football as a role model," states personnel consultant Jens-Thomas Pietralla. Despite Germany's economic struggles, only 23 Dax board members left, contrasting the 40 that departed the preceding year.
Looking Ahead
As the granular data about women's tenure and departures in this specific context is limited, global trends provide insightful comparisons. Essentially, a longer tenure for CEOs and executives is a general trend in established markets, which may extend to women's executives. Meanwhile, any observable departure trends will be meticulously monitored to maintain and foster diversity in leadership roles.
The focus now shifts towards ensuring the continued progress with appropriate succession planning, particularly for female executives. By setting a path for more women to ascend to top leadership positions, the achievements made can become long-lasting and impactful.
The rise of strong, successful women in leadership positions marks a significant shift in the German corporate landscape. Legal initiatives, like the Act on Equal Participation of Men and Women in Management Positions (FüPoG), and growing awareness about gender equality appear to be the key drivers behind this transformation.
- The proportion of women on the management boards of Dax companies continued to increase in 2024, reaching 25%, with Commerzbank, Daimler Truck, and Merck having women as their CEOs.
- Commerzbank and Siemens Healthineers showed the highest proportion of women on their management boards among Dax companies, with 50% and 33% representation respectively.
- In 2024, the overall changes in management boards were fewer, with a more muted wave of resignations compared to the previous year.
- Three car manufacturers and an aircraft manufacturer (Volkswagen, Mercedes, Daimler Truck, and Airbus) have their board members collaborating closely with China, focusing on their operations in the Chinese market.
- Looking ahead, appropriate succession planning will be essential to ensure the continued progress and lasting impact of female executives in the German corporate industry.
- The Act on Equal Participation of Men and Women in Management Positions (FüPoG) and increased awareness about gender equality have been key drivers in the rise of strong, successful women in leadership positions within the German economy.
