Germany: Women’s representation on executive boards grows, but gender parity remains distant

The proportion of women in executive and supervisory boards in Germany’s largest companies continued to rise in 2024, but achieving gender parity remains a significant challenge. Women accounted for 19% of board members in the top 200 private-sector companies by revenue, an increase of 1.5 percentage points from the previous year, according to the DIW Berlin Managerinnen-Barometer.

In supervisory boards, women now make up one-third of members, with DAX 40 companies showing higher representation at 26% on boards and 40% in supervisory roles. Despite these gains, progress remains gradual, leaving a long path toward equality in corporate leadership.

“Progress has been positive but not overwhelmingly significant,” said Katharina Wrohlich, head of the Gender Economics research group at DIW Berlin.

Women CEOs and Gains in the Financial Sector

A notable development in 2024 was the rise in women heading management boards. Among the top 200 companies, there were 13 female CEOs, up from nine in 2023. For the first time, three women chaired boards within the DAX 40 group, though they still represented fewer than 10% of all board chairs.

The financial sector also demonstrated progress. In Germany’s 100 largest banks, the proportion of female board members increased from 14% in 2022 to 21% in 2024, outpacing other sectors. Germany now surpasses the EU average for women’s representation on both management and supervisory boards in its largest listed companies.

Obstacles Persist: Gender Stereotypes and Corporate Culture

While these advances are encouraging, the DIW study highlights that simply increasing the number of women in leadership is insufficient. Gender stereotypes and traditional views on gender roles continue to hinder women from fully applying their skills and expertise.

“Improved access to top positions is not enough if corporate cultures and societal expectations remain unchanged,” emphasized Wrohlich. She stressed the need for businesses to adjust processes and practices to involve women equitably in decision-making, rather than treating diversity initiatives as mere box-ticking exercises.

Media Reinforces Gender Stereotypes

An analysis of media coverage conducted as part of the Managerinnen-Barometer revealed that gender biases are perpetuated in how female executives are portrayed. Women board members in DAX companies were more often described using family-related terms, such as “mother” or “child,” while male counterparts were more frequently associated with leadership and economic terminology.

This skewed portrayal is inconsistent with reality. Data from the Socio-Economic Panel (SOEP) show that female managers are less likely to be married or have children than their male peers. However, media focus on family roles reinforces stereotypes, potentially discouraging women from pursuing leadership positions.

“When stereotypes about women being more family-oriented are amplified in media, it can entrench these views in society, distorting career paths for both genders,” noted DIW researcher Virginia Sondergeld.

Outlook: A Call for Holistic Change

The report underscores the need for systemic change in corporate culture, public perception, and media representation to create an environment where women can thrive in leadership roles. As the study’s authors point out, progress requires more than just fulfilling quotas—it demands a rethinking of workplace practices and societal attitudes to achieve true gender parity in the executive ranks.

Source: Deutsches Institut für Wirtschaftsforschung (DIW Berlin)