A b s - GERMANY'S SPECIAL PATH The Share of Women on DAX Executive Boards declines during - Squarespace
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GERMANY'S
SPECIAL PATH
The Share of Women
on DAX Executive Boards
declines during
the Crisis
t r a c t
A b s
ALLBRIGHT RE PORT / SE P TE MBE R 2020
THE GERMAN-SWEDISH ALLBRIGHT FOUNDATION is a politically independent, non-profit foundation with the
headquarters located in Stockholm and Berlin. The foundation works to promote more women and diversity in executive
positions in businesses. The goal is to achieve equal career opportunities for both men and women and better company
results through diverse and modern management teams. AllBright targets management and HR representatives in
companies as well as multipliers and media, looking specifically to shed light on solutions that have already been
implemented successfully.
PUBLISHER:
AllBright Stiftung gGmbH
Gormannstr. 14 / 10119 Berlin
kontakt@allbright-stiftung.de
www.allbright-stiftung.de
N OT E : T his report provides information on the management groups on the highest executive management level
and the supervisory boards of the largest companies listed as of September 1 , 2020 , on the respective national
benchmark index of Germany, France, Great Britain, Poland, Sweden and the USA . In Germany this comprises the
30 DAX companies, in Poland the 30 companies of the WIG30 , in Sweden the companies in the OMX 30 , in the
USA the 30 companies of the Dow Jones Industrial Average. In Great Britain, the 30 companies with the largest
market capitalization on the FTSE 100 per September 1 , 2020 were considered, while in France the 30 companies
with the largest market capitalization on the CAC 40 were taken into account.
T he AllBright Foundation takes care in striving for the greatest possible diligence, yet bears no liability for the
accuracy, actuality and comprehensiveness of the information.
M A S T H E A D : Editors: Wiebke Ankersen, Christian Berg, Lucie Schibel – C ontributors: Susanne Fickenscher
and Rosina Ehrhardt – D esign: Kristina Brusa, Leipzig – Repro: humme Leipzig – Print: PögeDruck LeipzigContent
4
EDITORIAL
5
Other countries continue
to move forwards during the crisis
ONLY GERMANY TAKES A STEP BACK
6
INTERNATIONAL COMPARISON
7
INTERNATIONAL COMPETITORS
ARE BET TER POSITIONED
REPORT SEPTEMBER 2020 3The perspective
and experience of women
are needed at the top – also
in times of crisis!
The pandemic is shaping the global economy in an A NEW GENERATION OF FEMALE EXECUTIVES
unprecedented way. But the response of companies Many female executive board members left their position
is not the same everywhere. German corporations last year. The female pioneers in top management, who
are restructuring their management floors in a were often recruited from abroad, are now gradually
completely different way than competitors in other being replaced, and the new female executives come more
western industrialized countries. frequently from Germany – the »pipeline« of female
managers in German companies is better filled than ever
Two mechanisms can be observed in the German publicly before.
traded companies during the year of the crisis: a reduction
in the size of the executive boards and a return to the There are also some positive developments indicating that
familiar, tried and tested: a manager is a man. More female change nevertheless is on its way: the share of female
executives left the German executive boards than in executives on the boards of smaller and middle-size
previous years. As a result, the proportion of women on companies in MDAX and SDAX is improving very slowly
the executive boards of the 30 DAX-listed companies sank but steadily. And DAX companies like Deutsche Telekom,
to the level of 2017 instead of increasing as seen lately. SAP and Siemens have recently announced the arrival of
new female executive board members. This is urgently
COMPANIES ABROAD BRING MORE WOMEN needed, because at the current pace it would take exactly
INTO TOP MANAGEMENT 100 years to reach a balanced proportion of men and
The situation abroad is quite different: In the US, Great women on executive boards.
Britain, Sweden, France and Poland more diverse manage-
ment teams are continuously being built up during the
crisis. Diverse teams are better at coping with complex
challenges. Companies in these countries are much
better at promoting female talent – an urgently needed
modernization boost that German companies lack. This
is a strategic disadvantage for Germany and German
companies should be alarmed.
The crisis clearly shows that diversity is still not anchored
at the top of German companies. More women in top
management positions should be one of their most urgent Wiebke Ankersen & Christian Berg
strategic goals – especially as other countries already are Directors AllBright Foundation
far ahead in this regard.
A critical public opinion demanding equal opportunities We would like to take this opportunity to especially thank
and diversity in top management can accelerate this Ursula von der Leyen, President of the European Commission,
process. And the state, too, should finally get rid of for her contribution to the new AllBright report, as well as
outdated tax incentives such as joint-taxation for spouses. Ola Källenius, CEO of Daimler, and Martina Merz, CEO
It actively promotes low levels of female employment, of Thyssenkrupp, for sharing their experience with managing
with negative consequences for women‘s financial self- diversity.
determination and for the development of female leaders.
4 REPORT SEPTEMBER 2020OTHE R COUNTRIES CONTINUE TO MOVE FORWARDS DURING THE CRISIS
Only Germany
takes a step back
28,6 %
In a comparison of the proportion (+ 0,8) DAX COMPANIES FALL BEHIND
of women on the executive boards The companies in all of the compared
of leading companies in Germany, US countries consistently increased the
France, Great Britain, Poland, proportion of women on their execu-
Sweden and the US , Germany tive boards in the past year, only in
comes last. Germany is also the 24,9 % Germany it decreased during the
only one of the compared coun- crisis year. This means German
tries without a single female CEO companies fall even further behind.
(+ 2,2)
among the 30 largest publicly
traded companies and the only SWEDEN In the US, Sweden, France and Great
country where not a single com- Britain executive boards with at
pany reaches a proportion of 30 least two women have long been the
percent women on the executive 24,5 % norm: 97 percent of American and
boards. 87 percent of French major publicly
listed companies have several women
Although the executive boards of the (+ 2,2) on their executive board. In Germany,
30 largest DAX corporations are GREAT BRITAIN this is still the absolute exception:
more international and female than there are only 4 DAX companies with
those of small and medium-sized more than one woman on the board.
stock exchange companies, their share
of men is still around 87 percent.
22,2 %
(+ 2,4)
FRANCE
97 % 47 %
15,6 %
87 % 37 %
(+ 2,6)
POL AND
79 % 34 %
12,8 %
70 % 30 %
(- 1,9)
27 % GERMANY 20 %
13 % 0 %
Share of women on the executive boards
in the 30 largest companies on their
respective national benchmark index
Share of companies with at least listed as of September 1 st 2020 Share of companies with at least
two women on the executive 30 % women on the executive
boards (Development since September 2019 ) boards
REPORT SEPTEMBER 2020 5INTE RNATIONAL COMPARISON
Not a single company
in the DAX has 30 % women on
the executive board
In the US almost half of the companies have at least INVESTOR (S)
30 percent women on the executive board – this
share is considered a critical mass for a change
in the team dynamics – and in Great Britain and
60 % CISCO
SYSTEMS (USA)
JP MORGAN
Sweden it is more than a third. Germany is the CHASE (USA)
only country in this comparison without a single
company with a 30 % share of women on the
executive board.
AMERICAN
50 %
EXPRES S (USA)
PERNOD -RICHARD (F)
A ray of hope: Two DAX companies will soon achieve WALMART (USA) H&M (S)
a 33 percent share of women for the first time: CATERPILL AR (USA)
Deutsche Telekom in November 2020 and
SAP in January 2021.
GOLDMAN SACHS (USA) 40 % DANONE (F)
NORDEA BANK (S)
VERIZON (USA)
11 German DAX companies still have an
VISA (USA)
BP (GB) PROCTER &
38 %
all-male board of executives. In the USA GL AXOSMITHKLINE (GB) GAMBLE (USA)
and Sweden this is practically impossible: L´ORÉAL (F)
Among the 30 largest companies in the KERING (GUCCI, YSL) (F)
ASTRAZENECA (GB/S)
37 %
national leading indizes there is not one
ALFA-L AVAL (S)
executive board without a woman having
SKANSKA (S)
a seat at the table.
33 % Percentage of women on the executive
COCA- COL A (USA) boards of German companies (below)
DISNEY (USA) and a selection of competitors in the US,
SEB (S) UK, France, Sweden and Poland. All
companies rank among the 30 largest
COVESTRO
30 % listed companies in their respective
national benchmark index.
DAIMLER
DEUTSCHE TELEKOM
FRESENIUS MEDICAL CARE
MERCK ALLIANZ
VONOVIA SAP
25 %
FROM 1.10. SIEMENS
20 %
BASF
DEUTSCHE BÖRSE ADIDAS
FRESENIUS BEIERSDORF BAYER
HENKEL BMW DEUTSCHE DELIVERY HERO
VOLKSWAGEN POST DEUTSCHE WOHNEN
14 % EON
17 % 13 % HEIDELBERGCEMENT
INFINEON
DEUTSCHE LINDE
BANK MTU
10 %
RWE
CONTINENTAL
UNTIL 30.9. SIEMENS
MÜNCHNER RÜCK
11 % 0%
6 REPORT SEPTEMBER 2020International competitors
are better positioned
S H A R E O F WO M E N O N E X E C U T I V E B OA R D S : C O M P E T I TO R S S H OW W H AT I S P O S S I B L E I N T H E I R I N D U ST RY
Adidas 0: 2 7 % Nike Infineon 0:29 % Intel
HeidelbergCement 0:25 % Saint-Gobain EON / RWE 0:28 % Engie
Bayer 0:33 % GlaxoSmithKline / AstraZeneca Linde 0:36 % Air Liquide
All companies rank among the 30 largest listed companies in their respective national benchmark index.
In comparison with international competitors, major German companies underperform when it comes
to diversity in their top management. In various industries the German companies are falling behind, as
shown above.
REPORT SEPTEMBER 2020 72020 ON SE P TE MB ER 1, 2 02 0 IN TH E E X E CUT IV E BOA RD S O F T HE 1 6 0 L I ST ED G ERMA N C O M PA NI ES : 6 0 3 M EN AND 6 8 WOM EN.
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