MENA-OECD WORKING GROUP ON CORPORATE GOVERNANCE POLICY OPTIONS TO ACHIEVE SOUND CORPORATE GOVERNANCE FOR COMPETITIVENESS Opportunities to Improve Gender Balance in Corporate Leadership Floriane de Saint Pierre Lisbon July 4, 2018 Ethics & Boards, 2018
Board Gender Diversity Year Threshold Deadline 2011 40% 2017 FR % of women on the Board of the companies of the Index s Nationality % of women on the Board of all companies in the Index 43,4% 44,8% SANCTIONS 2006 40% 2008 OBX25 NO 38,5% 40,9% HARD LAW 2011 33,3% 2015 MIB40 IT 34,3% 34,8% 2015 30% 2016 DAX30 DE 33,5% 33,5% 2
Board Gender Diversity Year Threshold Deadline 2011 40% 2017 FR % of women on the Board of the companies of the Index s Nationality % of women on the Board of all companies in the Index 43,4% 44,8% SANCTIONS 2006 40% 2008 OBX25 NO 38,5% 40,9% HARD LAW 2011 33,3% 2015 MIB40 IT 34,3% 34,8% 2015 30% 2016 DAX30 DE 33,5% 33,5% NO SANCTIONS HARD LAW 2018 30% 2023 SMI20 CH 23,8% 23,8% HARD LAW SOFT LAW 2007 40% 2015 2015 30% 2020 IBEX35 ES 22,8% 23,0% SOFT LAW 2011 25% 2015 2015 33% 2020 FTSE100 UK 29,0% 29,5% NO LAW S&P100 US 25,4% 25,4% 3
France: The Road to Legislation 2011 Copé Zimmerman Law VOTED 2008 French Constitution CHANGED Ethics & Boards, 2018 4
France: The Road to Legislation 2017 2nd Threshold 40% 1st 2011 2014 Threshold 20% Copé Zimmerman Law VOTED 2008 French Constitution CHANGED Ethics & Boards, 2018 5
France: The Road to Legislation July 2018 2nd 2017 Threshold 43,4% 40% 1st 2011 2014 Threshold 20% Copé Zimmerman Law VOTED 2008 French Constitution CHANGED Ethics & Boards, 2018 6
France: The Benefits of the Law 55,9 yrs 72,5% 30,6% Average Age Independence International Diversity 60,5 yrs 47,2% 27,0% 43,4% 4,2 yrs Average Seniority 7,1 yrs 56,6% Women Board of Directors In the 1,76 Busy Directorship 1,56 Men Board of Directors In the Committee Chair 41,5% 58,5% 7
Women lower the Average Board Age Average Age 63,2 yrs 61,8 yrs 60,1 yrs S&P100 IBEX35 SMI20 59,4 yrs FTSE100 58,6 yrs +4,6 58,4 yrs 57,9 yrs 55,5 yrs MIB40 DAX30 OBX25 8
Women increase Board International Diversity Average International Diversity 61,5% 41,0% SMI20 FTSE100 33,3% OBX25 +3,6% 28,6% 21,8% 18,3% 18,1% 13,3% IBEX35 DAX30 MIB40 S&P100 9
No Single Path Towards Better Governance Hard Law (FR) Soft Law FTSE100 (UK) No Law S&P100 (US) Chairwomen 5/120 7/100 7/100 Women on the Board 43,4% 29,0% 25,4% Women CEO 8/120 8/100 8/100 Women in the Executive Committee 16,1% 19,0% 21,3% 10
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