The document, prepared by Atrevia and the IESE Business School each year since 2013, gathers information on the number of women sitting on the boards of Ibex35-listed companies. It draws attention to a slight increase in the number of female directors, as there are now 91 women sitting on these boards, 11 more than the previous year, accounting for 19.83% of total board members in companies on the index.

The securities exchange commission (Comisión Nacional del Mercado de Valores or CNMV) recommends at least 30% of board members be women, in its Code of Good Governance for Listed Companies. However, just 10 of the 35 companies listed on the Ibex35 comply with this recommendation (28.5% of the total). Still, progress is significant in comparison with 10 years ago, when women occupied a mere 5% of total board seats.

It points out that no board has more than 5 female members (Santander, REE, Iberdrola and Caixabank), and that just one company, Técnicas Reunidas, has no women at all on its board of directors. Moreover, the majority of female directors (68.13%) are independent directors, while just 3 female directors hold their seat as executive directors.