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Michèle Rodoni (50) in Mobiliar, Laura Meyer (39) in Hotelplan and Sabrina Soussan (51) in Dormakaba: three women, three new bosses for three large Swiss companies. The year 2021 got off to a good start in terms of equality: never before have there been so many new bosses!
Politicians want even more and have held Swiss-based big listed companies accountable since early January 2021. But so far one has been bitterly disappointed, as a survey by staffing consultancy Russell Reynolds Associates shows.
There, the gender benchmark created by the policy for SMI and SMIM companies was analyzed. This stipulates that at least 30 percent of the positions on the board of directors must be filled by women. A 20 percent proportion of women on boards of directors is sufficient. Companies have five (board of directors) or ten years (management) to reach these benchmarks. If unsuccessful, the company is obliged to state the reasons and the improvement measures in the compensation report to the shareholders.
As it stands now, MIS companies will need some explanation in a few years. Until now, the gender benchmark for leading Swiss companies has remained largely ineffective. The survey conducted by the personnel consultancy shows: At the current rate of growth, it would take 20 years for enough women to sit on boards of directors.
Medium-sized Swiss companies do better!
Although the proportion of women on the executive boards of the 20 largest Swiss companies has increased from 12 to 13 percent compared to the previous year, it is far from the benchmark 20 percent. In total, SMI companies still need 21 additional bosses in management.
Things look a little better with the SMIM little brother with its 30 midsize companies. Personnel consultancy Russell Reynolds Associates is noticing more movement there: Last year, nearly a quarter of vacant positions on boards of directors were filled by women. And: Three more female replacements have been announced. The proportion of women in the SMIM jumped from around 8 to more than 12 percent.
“Midsize companies are more dynamic than large Swiss companies and react more quickly to the benchmark index of the proportion of women in senior management required by law,” says Markus Hofer, Country Director at “Russell Reynolds”. SMI companies have no excuse: there is no shortage of qualified women in Switzerland, as Hofer says.
Switzerland is at the end of the international league
It is embarrassing to look at the international ranking, where the Swiss indices are in last place. However, the largest companies in Britain, France, Sweden, the Netherlands, Finland and Denmark are already exceeding the target of 20% women on boards of directors.
The favorite is Norway. Publicly traded OBX companies, the nation’s largest stock index, are nearly 30 percent female. A number that SMI and SMIM companies can only dream of. (nim)
