Large publicly listed companies in Ireland have made further progress in gender representation on their boards, reaching a milestone target of 40 per cent female representation.
The latest figures from the Government-backed Balance for Better Business showed representation inched up from 39 per cent in September.
Irish public companies are in advance of EU targets of 33 per cent by 2026, with the current average level of female representation at 37 per cent. However, across other listed companies, representation was unchanged at 28 per cent.
Four of the five Iseq 20 listed companies have three or more women on their board, the latest data found.
Balance for Better Business co-chair Carol Andrews said the progress was encouraging. “With three or more women on the boards of 80 per cent of Iseq 20 companies, it is clear that setting stretch targets and helping organisations to develop an action plan to achieve them is having a positive impact in driving gender balance,” she said.
“An increased focus on accelerating balance on senior leadership teams continues to be the next step on our path to fostering greater equity and inclusion across every level of Irish businesses.”
The leadership teams of other listed companies saw woman representation rise slightly, from 16 per cent to 18 per cent. However, some 24 per cent still had all-male leadership teams, showing progress remained slow. Women are also underrepresented in key decision-making roles. While there were five chief financial officers across listed companies, there were only two woman chairs and two woman chief executives.
The initiative plans to outline its new strategy and roadmap for the coming months that will include support for businesses and targeted actions. Balance for Better Business co-chair Aongus Hegarty said there were recognised benefits from gender-balanced leadership in business, including improved economic performance, a more engaged workforce and stronger culture.
“At Balance for Better Business, we urge business leaders to take the steps necessary to accelerate progress at leadership level and ensure long-term change. Setting stretch targets and regularly monitoring against these is a foundational step for every company on the path to greater equity,” he said.
Minister for Enterprise, Trade and Employment Simon Coveney, said the increase in women on Iseq boards was a testament to the ongoing efforts of the programme.
“There is still much work to do, however, especially to accelerate the pace of change for senior leadership teams. With clear business benefits to be gained from gender balance, increasing female representation at senior leadership levels, and at every level of their organisation, should be a strategic priority for every business I look forward to seeing the continued progress that will be made as Irish companies, supported by Government, further embrace and drive forward this important change.”
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