SBF 120 governance: diversity is not yet enough to break the glass ceiling
According to a study published on 24 September by the French Institute of Directors and Ethics & Boards, power is more collegial than it was ten years ago. But gender diversity on boards has not yet translated into more women appointed at the very top.
Le baromètre de la gouvernance responsable, publié par l’Institut français des administrateurs (IFA) et Ethics & Boards, fête ses dix ans. Cette décennie permet d’évaluer les avancées réalisées en matière de gouvernance au sein des grandes entreprises cotées. Bonne nouvelle : le pouvoir s’exerce de manière davantage collégiale, puisque la dissociation des fonctions de président et de directeur général s’est imposée, sans contrainte législative. Elle concerne désormais 76 % des sociétés du SBF 120 contre 50,8 % en 2017, et 70 % de celles du CAC 40 contre 47,5 %.
Autre bonne nouvelle, la féminisation progresse, cette fois sous l’effet des lois Copé-Zimmermann et Rixain. La part des femmes dans les comex et codir a doublé en moins de dix ans, passant de 15,1 % en 2017 à 30 % en 2026 dans le SBF 120 et à 31,2 % dans le CAC 40.
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French governance is transforming the exercise of power at its own pace
In the SBF 120, the separation of the chair and CEO roles keeps accelerating, while women still struggle to reach the chair and the chief executive’s office. Boards are getting older, recruiting ever more qualified directors to face today’s crises.
CAC 40: 31% women on executive committees, but only 10% in top management roles
The Rixain law delivered on executive committees. It has not broken the glass ceiling that blocks the way to the chief executive's office.
Women in leadership: a long fight to break the glass ceiling
Since March, the Rixain law has required French companies with at least 1,000 employees to reach a 30% quota of women among senior executives and leadership bodies. The obligation is already bearing fruit, even if it does not always come with real cultural change.
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