Explore the latest data and trends in BEL 20 appointments
2024
Board Monitor
Belgium
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CEO & Board Practice
Heidrick & Struggles’ CEO & Board Practice has been built on our ability to execute top-level assignments and counsel CEOs and board members on the complex issues directly affecting their businesses.
Europe CEO & Board of Directors Practice
Kit Bingham
London
kbingham@heidrick.com
Alice Breeden
London
abreeden@heidrick.com
2023 DATA
TRENDS DATA
Snapshot
2023 BEL 20 board appointments at-a-glance
PROFESSIONAL EXPERIENCE
DIVERSITY
APPOINTMENTS OVERVIEW
Number and share of appointments
board appointments were made in 2023
33
of BEL 20 companies brought on at least one new director
74%
of seats went to first-time public board directors
39%
Professional experience
of seats went to retired executives
39%
went to those active in executive roles
61%
67%
of appointments went to directors with cross-sector experience
64%
of seats went to directors with international experience
Most common type of C-suite experience (Share of appointments)
CEO
CFO
COO
42%
21%
9%
Nationality
of seats went to women
39%
Diversity
AGE AT APPOINTMENT
NATIONALITY
GENDER
CEO & CFO
BOARD EXPERIENCE
ACTIVE VS RETIRED
NUMBER OF SEATS
Trends, 2019–2023
Gender diversity trends: Women (%)
CEO
CFO
CEO & CFO experience (%)
First-time board members (%)
83
69
45
61
Active executives (%)
2020
2021
2022
2023
24
13
20
33
Number of seats filled
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This analysis is part of Heidrick & Struggles’ long-standing study of trends in board composition in countries around the world. Produced by our global CEO & Board Practice, these reports track and analyze trends in non-executive director appointments to the boards of the largest publicly listed companies in Australia (ASX 200), Belgium (BEL 20), Brazil (B3), Canada (TSX 60), Colombia (COLCAP), Denmark (OMX Copenhagen 25), Finland (OMX Helsinki 25), France (CAC 40), Germany (DAX and MDAX), Hong Kong (Hang Seng), Ireland (ISEQ), Italy (FTSE MIB), India (Nifty Top 200), Japan (TOPIX Core 30), Kenya (NSE Top 40), Mexico (BMV IPC), the Netherlands (AEX), New Zealand (NZX 10), Norway (OBX), Poland (WIG20), Portugal (PSI 20), Saudi Arabia (Tadawul), Singapore (STI 30), South Africa (JSE Top 40), South Korea (KOSPI 50), Spain (IBEX 35), Sweden (OMX Stockholm 30), Switzerland (SMI Expanded), the United Arab Emirates (ADX and DFM), the United Kingdom (FTSE 350), and the United States (Fortune 500). Information about executives is gathered from publicly available sources, BoardEx, and a Heidrick & Struggles proprietary database.
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8
15
30
21
50
54
35
42
XX%
COO
52%
Non-national
48%
National
2019
12
2019
2020
2021
2022
2023
75
2019
2020
2021
2022
2023
17
33
46
50
39
2019
2020
2021
2022
2023
8
25
2019
2020
2021
2022
2023
42
33
31
60
39
2019
2020
2021
2022
2023
55
56
58
53
56
Average age at appointment
2019
2020
2021
2022
2023
38
33
23
50
48
Nationality (%)
National
Non-national
N/A
63
67
46
50
52
31
The average age was
Min
Max
56
36
70
56
Leadership Agenda:
stay connected
Subscribe to our monthly newsletter for the latest expert insights and trends.
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Heidrick Insights
Explore the latest thought leadership from Heidrick & Struggles
LEARN MORE
CEO & Board of Directors Practice
Helping organizations lead with purpose to be the best they can be now and in the future
LEARN MORE
This analysis is part of Heidrick & Struggles’ long-standing study of trends in board composition in countries around the world. Produced by our global CEO & Board Practice, these reports track and analyze trends in non-executive director appointments to the boards of the largest publicly listed companies in Australia (ASX 200), Belgium (BEL 20), Brazil (B3), Canada (TSX 60), Colombia (COLCAP), Denmark (OMX Copenhagen 25), Finland (OMX Helsinki 25), France (CAC 40), Germany (DAX and MDAX), Hong Kong (Hang Seng), Ireland (ISEQ), Italy (FTSE MIB), India (Nifty Top 200), Japan (TOPIX Core 30), Kenya (NSE Top 40), Mexico (BMV IPC), the Netherlands (AEX), New Zealand (NZX 10), Norway (OBX), Poland (WIG20), Portugal (PSI 20), Saudi Arabia (Tadawul), Singapore (STI 30), South Africa (JSE Top 40), South Korea (KOSPI 50), Spain (IBEX 35), Sweden (OMX Stockholm 30), Switzerland (SMI Expanded), the United Arab Emirates (ADX and DFM), the United Kingdom (FTSE 350), and the United States (Fortune 500). Information about executives is gathered from publicly available sources, BoardEx, and a Heidrick & Struggles proprietary database.
About the research