More women have made it onto the board but the gender pay gap has widened, a report by Hay Group reveals.
European boardrooms were still dominated by men, the global management consultancy found, with women securing only 17% of director roles. In addition, barely 2% of non-executive chairs in Europe were female.
There were significant signs of improvement, however. Italy was the only one of the 12 European in the survey to report a 90% or more male presence on the board in 2012, a majore step forward from 2011, when seven of the 12 exhibited a similar male preference.
Yet despite better representation at the top, the pay gap yawned wider. Male directors were paid 9% more than women in 2012 compared with 7% more in 2011. In Italy, the gap was even greater at 22%.
Scandinavia emerged as the equality trailblazer. Norway topped the league with 38% female board representation, thanks to quotas introduced in 2003. Even without the aid of quotas, public pressure and changes in attitude ensured 28% of board directors were women in Sweden and Finland.
The research analysed the annual reports from 390 organisations in 12 European countries.
