Gender Parity in Mexican Stock Exchange-Listed Companies
The representation of women in the boards of directors of companies listed on the Mexican Stock Exchange (BMV) is rising, with 46% of seats now occupied by women, according to the study “Board Monitor México 2025” by Heidrick & Struggles.
Historical Context and Comparison
This significant growth comes after the percentage of women in boards remained around 30% over the past four years, peaking at 37% in 2022. Mexico is now close to Colombia, which achieved gender parity in 2023 with 50% of board positions held by women.
Reasons for the Increase
According to Carlos Vázquez, a partner at Heidrick & Struggles in Mexico, the rise in women on boards is attributed to three factors: increased representation of women in leadership roles, organizations fostering awareness and preparation for directorship among women, and market demand for greater diversity.
Director Profiles
Companies are seeking directors with experience, reflected in 75% of current board members (both men and women) having served as CEOs. This represents a 150% increase over the past five years, from 30% in 2023 to 75% in 2024.
- 13% are former CFOs
- 13% have experience as COOs
- 25% hold other directorship roles
83% of board members continue working in other capacities, 21% are first-time members, 42% have international experience, and 13% serve on sustainability committees.
Contrary to the assumption that retired executives become board members, companies now prioritize active talent addressing current market challenges, global changes, geopolitical risks, tariffs, regulations, and more.
Intersectorial Experience
Carlos Vázquez emphasizes that successful boards require not only gender diversity but also diverse perspectives to address problems and risks effectively.
Organizations value leaders with experience in transformation, crisis management, regulatory relations, and digital expertise, as 71% possess intersectorial experience.
Diverse boards enable better risk management, and as companies expand into new geographies or industries, diversity aids in reviewing strategic design,” concludes the expert.
Key Questions and Answers
- What factors contributed to the increase in women on Mexican corporate boards? Increased representation of women in leadership roles, organizations fostering awareness and preparation for directorship among women, and market demand for greater diversity.
- What percentage of board members have experience as CEOs? 75% of current board members, both men and women, have served as CEOs.
- What skills do companies prioritize in board members? Active talent addressing current market challenges, global changes, geopolitical risks, tariffs, regulations, and more.
- Why is intersectorial experience valuable for board members? It enables better risk management and strategic design as companies expand into new geographies or industries.
