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. The highest recorded percentage was 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, three factors contribute to the rise of women in corporate boards: increased presence of women in leadership positions, organizations fostering awareness and preparation for board membership, and market demand for greater diversity.
Board Member Profiles
Companies are seeking directors with experience, as reflected by 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
While it’s common to assume that retired executives become board members, the data shows companies prefer 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 prioritize leaders with transformation experience, crisis management skills, regulatory relations expertise, and digital experience, as 71% possess intersectorial experience.
Bringing in individuals with CEO experience to chart new courses, direct strategies, and deliver comprehensive results is highly valued by boards.
Diverse boards enable better risk management, and as companies expand into new geographies or industries, diversity aids in reviewing strategic designs.
Key Questions and Answers
- What factors have contributed to the increase in women on corporate boards? Increased presence of women in leadership roles, organizations fostering awareness and preparation for board membership, and market demand for greater diversity.
- What types of experience do companies seek in board members? Companies prioritize directors with CEO experience, crisis management skills, regulatory relations expertise, and intersectorial knowledge.
- Why is diversity important for corporate boards? Diverse boards enable better risk management and provide varied perspectives to address problems and risks effectively, aiding in strategic design reviews as companies expand.
