Women on Boards

In the study, “The participation of women in the boards of  the 1,000 companies that sell the most,” it was revealed that only 6.5% of the presidencies are held by women.  Here at Citromax Group, we want to express the pride of having Vivian Glueck as president of our board.

The information comes from a detailed annual study carried out by Mercado in alliance with KPMG to add to the debate and promote women’s leadership. In this fifth edition of Women in the directories of the 1000 that sell the most, the numbers are sharp, reflecting that in many cases the diversity agenda is more discursive than real.

“For several years now, it is more common to find women in hierarchical and senior management positions, fulfilling CEO roles, leading Marketing, Human Resources, among other divisions. However, the same does not happen in the case of boards, which is the highest decision-making body of companies. Since the board is where the corporate purposes are defined, investments are determined, balance sheets are approved and the strategy to be followed is established – which will later be implemented by executives – this very low presence of women on boards of directors is worrying.”, expose the article.

Of the total 6,248 members (regulars and alternates) that make up the boards of the 1,000 companies with the highest turnover in Argentina, 5,248 are men and only 1,000 are women (16%), while 93.5% of the presidencies are held by men, and only 6.5% by women.

“The demands of the new generations, the pressure of stakeholders and experiences have shown that diverse teams generate better results (…). The new generations, more friends of diversity, rush a change that is difficult to implement. Investor pressure is also driving companies to move forward on this point, which constitutes the 17th United Nations Sustainable Development Goal (SDGs), and is an important component of ESG (Environment, Society and Governance), and triple impact strategies, which prioritize currently especially in large companies.” says Mercado.

At Citromax, we are proud to have Vivian Glueck, not only as CEO of the company, but also as Chairman of the Board. Her vision has enriched our diversity and inclusion policy, and more and more women are entering and ascending to hierarchical positions within the company. Thus, we aspire to continue growing and contributing to the transformation.

We invite you to read the full research from this link (Page 50 – only in Spanish): https://mercado.com.ar/wp/wp-content/uploads/2022/09/2022_Mercado_edicion_aniversario_agosto.pdf

Author: Estefanía Scuka
Edition: Caroline Chicola
Date: March 8, 2023