Explore the latest data and trends in DFM/ADX Top 60 board appointments
2024
Board Monitor
UAE
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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
DFM/ADX Top 60 2023 board appointments at-a-glance
PROFESSIONAL EXPERIENCE
DIVERSITY
APPOINTMENTS OVERVIEW
Number and share of appointments
board appointments were made in 2023
32
of companies brought on at least one new director
33%
of seats went to first-time public board directors
63%
Professional experience
of seats went to retired executives
22%
went to those active in executive roles*
75%
63%
of appointments went to directors with cross-sector experience
19%
of seats went to directors with international experience
Most common type of C-suite experience (Share of appointments)
CEO
CFO
COO
53%
6%
6%
Nationality
of seats went to women
31%
Diversity
AGE AT APPOINTMENT
NATIONALITY
GENDER
CEO & CFO
BOARD EXPERIENCE
ACTIVE VS RETIRED
NUMBER OF SEATS
Trends, 2020–2023
Gender diversity trends: Women (%)
CEO
CFO
CEO & CFO experience (%)
First-time board members (%)
58
55
Active executives (%)
2022
2023
12
11
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), 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), 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
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3
6
35
53
3%
N/A
44%
Non-national
53%
National
25
36
2022
2023
2022
2023
2021
2022
2022
2023
50
45
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13%
Other C-suite
52
54
31
32
Number of seats filled
The appetite for board refreshments remained stable compared to 2023, but still lower than the 2020 and 2021 high
79
87
65
75
Active executives
There was an increase in the share of seats that went to active executives compared to 2022
38
61
29
63
First-time board members (%)
2023 saw the highest share of appointments that went to first-time directors
21
13
16
19
22
3
Retired
N/A
There was significant increase in the share of appointments that went to directors with CEO experience in 2023 compared to 2022, while the share seats going to directors with CFO experience remained relatively stable
Percentage active vs. retired
56
42
2
12
12
17
23
31
The share of seats that went to women was at the highest level since 2020
* 3% had no available information
2020
2021
2022
2023
2020
2021
2022
2023
2020
2021
2022
2023
2020
2021
2022
2023
2020
2021
2022
2023
went to those active in executive roles
44%
Non-national
2022
2023
12
12
Number of seats filled, 2020–2023
Active executives (%)
2022
2023
58
58
Active executives (%)
Active
Retired
79
58
19
87
75
22
2023
2022
50
50
2023
2022
25
25
8
8
17
12
2023
2022
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2023 DATA
TRENDS DATA
VIEW REPORT