The rate at which women are being recruited to the boards of Swedish publicly listed companies has declined, and the number of women on the executive management committees of these same companies is also falling.
This is clearly demonstrated by the Second AP Fund’s index of female representation on the boards and executive committees of Swedish exchange-listed companies. Since 2002, female representation on the boards of publicly listed companies has more than doubled, from 6.1 to 15.9 percent of these companies’ boards. During the same period, there has been a marginal increase in the number of women on executive management committees, from 11.1 to 11.6 percent.
“That the number of women in top corporate management has remained almost static since 2002 is cause for serious concern. It indicates that the recruiting base for board members with experience of corporate management is not expanding. The reasons behind this are many and various. Institutional shareholders, corporate managements, personnel departments, universities and university colleges, politicians and we ourselves, as private individuals, have a joint responsibility to utilise the potential represented by recruiting women to corporate managements and boards”, says Lars Idermark, CEO of the Second AP Fund.
A long-term institutional shareholder, the Second AP Fund is committed to the development of corporate governance techniques. The Second AP Fund has measured developments with respect to female representation on boards of directors and corporate managements continuously, since 2002.
“As a long-term asset manager, it is important to us that the companies in which we invest employ all their resources in the best possible way, not least when it comes to women with sought-after skills. The better the recruitment base, the better the boards and managements. These in turn create better companies, which generate enhanced shareholder value”, says Lars Idermark, CEO of the Second AP Fund.
For additional information, contact Lars Idermark, CEO, or Carl Rosén, head of Corporate Governance and Communications, on +46 (0)31 704 29 00.