Fewer women CEOs have been appointed since the start of the COVID-19 crisis - here’s why

[Kathleen Martin]

• Companies are defaulting to hiring male CEOs during the pandemic, says a new report.
• Women make up only 5% of chief executives globally.
• Ireland has the highest percentage of female CEOs (15%) and Brazil the lowest (0%).
• Report is further evidence of the pandemic’s impact on women.

The world’s biggest companies have been recruiting fewer women to chief executive roles since the start of the COVID-19 pandemic, according to new research.
Women make up only 5% of chief executives globally and remain significantly underrepresented, finds a report from the executive search firm, Heidrick & Struggles.
The US-based company analyzed the backgrounds of the 965 chief executives leading the largest listed companies in 20 markets around the world to understand the skills and experiences that shaped their path to the top role.
The report, Route to the Top 2020, compared CEO appointments made after 11 March, 2020 – when the World Health Organization (WHO) declared COVID-19 a global pandemic – to those appointed from January 2019 to 10 March, 2020.
COVID-19 has caused companies to shift their focus to appointing chief executives with a proven track record and previous CEO experience – a strategy that favours men. Women CEO appointments decreased from 12% in the cohort appointed after October 2019 to only 6% after the pandemic announcement. Ireland has the highest percentage of female CEOs (15%), and Brazil has the lowest (0%).
Continue reading: https://www.weforum.org/agenda/2020/12/fewer-women-ceos-covid-gender-gap/?fbclid=IwAR3zxFOQnzY3RFofKEhcwsbQ9kn_3ThsRH-Dzv8VQ66UR8do6MVg8eFYjcY