More women on boards, better companies

Women in leadership positions broaden strategic vision, make more responsible decisions, and foster inclusive corporate cultures. However, their presence on the board of directors, although increasing, is still far from parity.

At the end of 2023, the presence of women on the boards of listed companies reached 34.5%, with a growth of more than two points compared to the previous year, according to the annual corporate governance reports. In IBEX 35 companies, the percentage rose to 39.2% in 2024, close to the 40% threshold set by European Directive 2022/2381 for 2026.

Companies leading the change

Some companies have understood that diversity is a strategic advantage:

• Iberdrola has reached 43% of women on its board of directors and is committed to diversity as the axis of its corporate strategy. Its HerEnergy program promotes female talent in a historically masculinized sector such as energy.
• Acciona integrates gender equality into its business model and collaborates with initiatives such as Homeward Bound, which prepares women leaders in science and technology.
• El Corte Inglés has made progress in the inclusion of women in decision-making and promotes professional development programs for female talent.

Benefits of the presence of women on boards of directors

Women’s leadership on boards has measurable effects:

• Better business results: a study of Spanish companies between 2013 and 2018 concludes that a higher percentage of women on boards improves the profitability of companies, according to financial indicators such as return on assets (ROA) and return on equity (ROE).
• More effective decision-making: According to the International Labour Organization (ILO), companies with gender-balanced boards of directors are almost 20% more likely to improve their business results.
• Greater sustainability and business ethics: An analysis of more than 200 companies in the US and Europe reveals that women on boards increase accountability and reduce pluralistic ignorance (when no one questions a decision because they believe others agree), allowing previously ignored problems to be addressed.

A transformation underway

Companies and public administrations must accelerate change. More training, more mentoring and more opportunities. Only in this way will more women reach the boards of directors.

Gender diversity is not just a matter of justice. It is an investment in more competitive and sustainable companies.