The proportion of women on the boards of listed companies in Finland has risen to a record level of 31 percent this year, according to the chamber of commerce’s report.
In large listed companies, the proportion of women on boards rose by three percentage points to 35 percent. The proportion of women in medium-sized and small listed companies rose by one percentage point to 32 percent and 26 percent, respectively. In addition, women now make up 35 percent of new board appointments.
The Chamber of Commerce has followed the development of women’s participation in the board and management teams for more than ten years.
The share of women on company boards, with few exceptions, has grown steadily over the years, and only three small listed companies this year have an all-male board, an advisor to the Chamber of Commerce, Ville Kajalasaid.
Directive on gender balance
At the end of this year, an EU directive on gender balance in company boards is expected to enter into force.
According to the Chamber of Commerce’s assessment, more than half of the listed companies covered by the directive already meet its requirement for a gender balance in their board of directors and all supervisory boards.
According to the directive, at least 40 percent of the underrepresented gender must be represented. This should be achieved by mid-2026.
Although many Finnish companies already achieve the goal of the directive, the quota regulation directs attention to the promotion of female leadership as a whole, Kajala said.
The risk of gender quotas is that many women in management positions move to board positions, which, according to Kajala, can lead to a decrease in the proportion of women in management. Board positions can also be concentrated among the same women, he added.
Source: The Nordic Page