Mixed picture for women in leadership roles at Finnish listed companies

While there are more female CEOs it's a different story when it comes to other women in senior board positions in Finnish companies.

File picture of company board meeting / Credit: iStock

The number of female CEOs in Finnish listed companies has reached a record high, although it’s a more complex picture when it comes to the number of women in other senior leadership roles.

According to the Central Chamber of Commerce 11 companies have women as their CEO, a total of 9% of all Finnish companies listed on the Helsinki Stock Exchange.

“Despite the new record, the number of female CEOs in listed companies is still small” says Ville Kajala, Senior Expert at the Central Chamber of Commerce.

“For the future, it is good that the proportion of women in both business and financial management has steadily increased, as it is usually through this process that the CEO is promoted. Future board members can also be found in today’s CEOs and members of management teams” he adds.

The new research looks at the number of women as CEOs of listed companies and on management boards of listed companies.

Women currently make up 24% of the management teams of Finnish listed companies. Their overall share has fallen by one percentage point from last year, due to the fact that in small listed companies the proportion of women on management boards dropped significantly compared to the previous year.

However in large and medium-sized listed companies the proportion of women on management boards continued to grow. As many as 36% of new members of the executive boards of large listed companies in 2019 were women.

But there are still 22 listed companies in Finland with no women on the management team at all.

The majority of female members of management teams in Finland are in charge of so-called support functions like human resources, communications or legal matters.