Female representation at the corporate top (IVOR nr. 126) 2022/3.3.4.1:3.3.4.1 Figures

Female representation at the corporate top (IVOR nr. 126) 2022/3.3.4.1

3.3.4.1 Figures

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In the Netherlands, the progress in the percentage and number of women on corporate boards of large companies and listed companies has been monitored in the Corporate Monitor Women at the Top (Bedrijvenmonitor Topvrouwen) (Bedrijvenmonitor) and in the Dutch Female Board Index respectively.1 The Bedrijvenmonitor, conducted by the Monitoring Committee Women at the Top (Commissie Monitoring Topvrouwen) (Monitoring Committee), monitors yearly the progress made in reaching the target figure of 30 percent since introduction of the target figure. The Bedrijvenmonitor takes a random selection into account of the largest companies,2 i.e. those companies to which the target figure applied. The Dutch Female Board Index considers the number of women on the management and supervisory boards of all Dutch listed companies, irrespective of whether they are large or small, i.e., approximately 90 companies. Table 3.2 shows the progress made in increasing the percentage of women on corporate boards of Dutch listed and large companies between 2012 and 2020, according to both monitoring systems.

Table 3.2 Percentage of women on corporate boards of Dutch listed and large companies3

2012

2013

2014

2015

2016

2017

2018

2019

2020

Percentage of women on management boards

Bedrijvenmonitor

7,4%

8,9%

9,6%

9,6%

10,7%

11,0%

12,4%

12,4%

13,4%

Female Board Index

4,6%

4,7%

6,0%

7,8%

7,1%

6,2%

5,7%

8,5%

12,4%

Percentage of women on supervisory boards

Bedrijvenmonitor

9,8%

11,2%

11,2%

12,5%

15,0%

15,4%

18,4%

20,4%

21,9%

Female Board Index

13,3%

18,0%

19,5%

21,3%

23,1%

24,6%

25,1%

26,8%

29,5%

Percentage of companies that have women on their management boards

Bedrijvenmonitor

19,7%

22,7%

23,9%

25,8%

27,3%

29,4%

33%

33,2%

-

Female Board Index

11%

12%

15%

17%

17%

14%

14%

19%

26%

Percentage of companies that have women on their supervisory boards

Bedrijvenmonitor

32,5%

36,3%

36,7%

38,3%

46,9%

46,5%

51%

56,7%

-

Female Board Index

42%

60%

63%

68%

71%

79%

76%

81%

79%

Percentage of companies that achieved 30% women in both management board and supervisory board = compliance with target figure

Bedrijvenmonitor

4,5%

5,3%

3,6%

3,9%

5,8%

6,0%

8,3%

9,6%

-

Female Board Index

1/96= 1%

0/85= 0%

1/87=

1%

0/84=

0%

2/83= 2%

6/85= 7%

5/90=

5,5%

6/88= 6,8%

15/94

=16%

54%4

The aim of the target figure was to attain a more gender balanced representation in the management and supervisory boards of large companies, which meant that the boards should be composed of at least 30 percent women (and at least 30 percent men). However, as the figures show, this objective is far from being met. The target figure did not bring about the desired change in the percentage of women on corporate boards of large companies because the target figure of 30 percent women in both the supervisory board and management board was not met. The figures show that by the end of 2020, the number of female supervisory board members came close to reaching 30 percent, albeit only for listed companies, whereas the number of female management board members remained at approximately 12 and 13 percent for listed companies and large companies respectively. Although the percentage of companies with women on their supervisory boards differs according to the Dutch Female Board Index and the Bedrijvenmonitor, by the end of 2019, 19 percent of the examined companies still did not have any women at all on their supervisory boards, and over 66 percent of these companies did not have any women on their management boards, even when considering the most favorable figures. When considering both boards, only a poor percentage of companies actually succeeded in meeting the target figure. In the Bedrijvenmonitor it was also noted that progress, albeit limited, in the number of women on boards can only be ascribed to a small number of companies.5

The Bedrijvenmonitor discusses a few reasons mentioned by large companies as to why they did not make an effort to achieve a more balanced distribution in their boards in 2019: (1) a balanced distribution cannot be achieved because the company board consists of one person, (2) there were no appointments or a limited number of new appointments and/or (3) companies want to opt for ‘quality’ in appointing board members and that means that they do not necessarily want to consider gender when selecting new board members.6

Besides the limited progress that has been made in increasing the percentage of women on corporate boards, the majority of the companies that failed to meet the target figure also did not provide an explanation in their annual reports as to why the target figure was not met. Less than 10 percent of the companies that failed to meet the target figure complied with their reporting obligations in their annual report of 2019.7 Consequently, 90 percent of the companies did not comply with the target figure legislation.8

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