Women hold 13pc of all executive board positions in Iseq 20, report finds

The Board Index examined the boards of the group of top companies on the Irish Stock Exchange in April 2023.

Spencer Stuart revealed that the number of women on boards increased by 12pc in the year to April 2023. Women now make up 37pc of Iseq 20 boards.

This was driven by a number of new appointments throughout the year. Around 65pc of boards added a new director in the period, of whom 67pc were women.

As a result, the number of boards with at least 33pc female representation has risen to 80pc. the report found.

Spencer Stuart pointed to a “steady increase” in the number of female non-executive directors, while the number of women in top executive positions remained low.

Just two chief executives, three chief financial officers and one chair position were held by women in the period under review.

However, both of these chief executives – Ires Reit boss Margaret Sweeney and Glanbia group managing director Siobhán Talbot – have announced their intentions to retire next year.

Almost half of new appointments to boards over the year to April 2023 were non-Irish, with a third of all directors coming from outside Ireland.

“It’s positive to see that ISEQ 20 boards as a whole are already surpassing the government target of 33pc of women on boards, with 37pc of female membership across Iseq 20 boards,” Spencer Stuart managing partner Ruth Curran said.

She added that the number of women on boards has jumped 42pc since 2020.

“However, there are individual boards that still have a significant way to go, and there is still a need for more women in senior leadership positions in Irish boardrooms,” Ms Curran said.

The Board Index was completed at a time of “significant change” as a number of former Iseq 20 companies announced plans to delist from Euronext Dublin.

Flutter plans to add a listing on the New York Stock Exchange early next year, while CRH also moved its primary stock market listing to New York earlier this year.

“The preference for the US Stock Exchange over Ireland is clearly one of scale, with greater trading volumes and increased earning potential, but we must also admit that there are some other push factors at play, such as higher stamp duty costs on shares in Ireland, and the regulatory complexities associated with dual listings,” Ms Curran said.