The variety of ladies on boards of administrators in Brazil rises
- December 11, 2022
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Leila Loria, who is on the board of directors of Pernambucanas, considers that the change brings better results for companies
The participation of women on boards of directors rose from 14% to 16% compared to 2021, according to an unprecedented study completed by the KPMG consultancy in Brazil. The study, which analyzes 293 publicly traded companies, also showed that the percentage of listed companies with female executives on their boards rose from 63% to 71% this year. In 2018, less than half of these companies had women in that position and female participation was 8%.
“Among the contributing factors, I attribute, in particular, the increased demand for directors who are prepared for the ESG agenda”, says Leila Loria, board member of JBS, Copel and Pernambucanas, among others. The executive also holds the position of co-chair of WCD (Women Corporate Directors), an entity that promotes diversity on boards. In Loria’s view, women have been dedicating themselves to environmental and social issues for a longer time.
Studies show better business indicators in companies with more female directors. There is also greater pressure, made by social changes in the world, for this transformation to take place. See the agreement between Volkswagen and Bradesco, which links obtaining financing to greater diversity in leadership.
According to WCD data, only 15 publicly traded Brazilian companies have more than 30% women on their boards of directors. In total, today they occupy only 9% of council positions. A study published by the Harvard Business Review analyzed 163 companies for 13 years and concluded that, among those with more women in leadership positions, there is greater openness to change, less propensity to risk and greater focus on innovation. “There is a greater awareness that diverse boards bring better results, especially in this ever-changing environment that we live in.”