The glass ceiling is maintained despite some efforts.

Just under a third of companies in the SBF 120 stock market index have 30% women in management positions, the consultancy firm Heidrick & Struggles has counted.

A figure that corresponds to the representation quota set for 2027 by the newly passed Rixain law.

These companies "have taken a head start in anticipating this evolution", underlined Jennifer Flock, director Diversity, Equity and Inclusion at Heidrick Consulting, during the presentation Wednesday of a study on the diversity within the index of reference SBF 120, which includes the 40 largest French companies in the CAC 40.

40% in 2030

It would take more than 200 women to access management positions within these companies (including 78 among CAC 40 companies) to reach a representation quota of 40% out of 1,347 positions within the executive committees, according to calculations by Heidrick & Struggles based on end of 2021 figures.

Ten years after the adoption of the Copé-Zimmermann law, which imposed 40% of women on boards of directors, the Rixain law adopted in mid-December plans to establish a representation quota among senior executives and members of administrative bodies. female managers of companies with at least 1,000 employees: at least 30% women in 2027 and 40% in 2030.

The impact of being “led” by a woman

The firm does not fail to note that among “accelerators”, a nickname given to companies that have already reached the thresholds of the law, the fact of being led by a woman “has an impact”.

"Among the most advanced companies, with already 40% of women on the executive committee, six of them are led by a woman", namely Europcar, Eutelsat, Gecina, Maisons du Monde, Nexity and Sodexo, noted Hervé Borensztejn , from Heidrick Consulting.

Four women manage or are about to arrive at the management of CAC 40 companies, at Engie, Veolia, Suez, Orange.

These last three recent appointments were not taken into account in the study.

“Two-speed” committees

It should be noted, however, that within the executive committees, nearly two-thirds (68%) of women occupy functional positions (HR, finance, legal, purchasing, IT, communication, CSR, etc.) at the head of the marketing department, human or legal resources, while operational functions (general management, sales, etc.) are 86% held by men.

“If we were a little critical of that, it looks like we are starting to observe two-speed executive committees,” regrets Hervé Borensztejn.

But to reach the thresholds of 40%, mathematically “companies will not be able to content themselves with having only women in functional positions.

There is a threshold effect,” he warns.

Rejuvenation of committees

The speed of change in parity within management committees depends on the sectors: life sciences (+10% between 2020 and 2022) and financial services (+8%) are driving forces, while manufacturing and services are catching up less quickly (+3%).

The feminization of executive committees is also reflected in a rejuvenation, underlines the study, which also shows a new, more mixed generation: within executive committees, women and men are equally among those under 44 (52% of women).

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