Promoting Women ExecutivesLeena LinnainmaaDeputy Chief Executive, Finland Chamber of Commerce
Finland• Capital: Helsinki• Population: 5.4 million• GDP 2012: 194 billion EUR , per capita 35.900 €• Government: Parliame...
Promoting women executives throughself-regulation is a strategic goal ofFinland Chamber of CommerceTools:CG CodeStudiesArt...
Self-regulation or quotas?• Women on boards– Quota legislation in many European Countries– EU quota directive proposal• Al...
Wider talent pool is the target in promotingwomen in decision-making• The long-term success of our economy requiresthat th...
Recommendation in theCorporate Governance Code24 April 2013 Women Executives / Linnainmaa6Both genders shall berepresented...
Gender of directors in Finnish listed companies24 April 2013Women Executives / Linnainmaaonlymen49 %bothgenders51 %2008onl...
Women on boards: 3 x more than 10 years ago• Women hold 23 % of boardseats in listed companies– 31 % in large caps(28 % in...
24 April 2013Women Executives / Linnainmaa• Golden skirt phenomenon is unknown in listed companies.• Merely 19 women have ...
Studies on women executives in Finland• Finnish Business and Policy Forum EVA– Report and Analysis "Women to the top!“ Sep...
FCC Study 2011
FCC Study 2012
• Launched on Women’s Day 2012– Ca 250 applicants– 42 accepted as mentees– Top-level mentors– Participants pay a fee for t...
24 April 2013 Women Executives / Linnainmaa14Website for theprogrammewww.naisjohtajat.fi”Women,seize theopportunity!”
24 April 2013 Women Executives / Linnainmaa15Mentoring programme topromote women leaders- Printed catalogue of participant...
Thank you!www.twitter.com/LeenaLmaa24 April 2013 Women Executives / Linnainmaa16
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Doha women executives 2013

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Leena Linnainmaa's presentation in World Chambers Congress in Doha, Qatar 24 April 2013.

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Doha women executives 2013

  1. 1. Promoting Women ExecutivesLeena LinnainmaaDeputy Chief Executive, Finland Chamber of Commerce
  2. 2. Finland• Capital: Helsinki• Population: 5.4 million• GDP 2012: 194 billion EUR , per capita 35.900 €• Government: Parliamentary republic• Life expectancy 79.41 yrs, male: 75.94 yrs, female: 83.02 yrs• Women’s share of workforce: 47.3 %• Transparency International, Corruption Perceptions Index: Finland #1 worldwide• Women in leadership positions in the public sector– 43 % of Members of Parliament are women– President of the Republic, Ms Tarja Halonen 2000-2012– 2 previous Prime Ministers were women– Currently 47 % of Ministers are women– President of the Supreme Court is a woman– Previously: woman as Speaker of the Parliament• Far less women in top leadership positions in the private sector24 April 2013Women Executives / Linnainmaa2
  3. 3. Promoting women executives throughself-regulation is a strategic goal ofFinland Chamber of CommerceTools:CG CodeStudiesArticlesMentoring Programme for Women ExecutivesWebsite
  4. 4. Self-regulation or quotas?• Women on boards– Quota legislation in many European Countries– EU quota directive proposal• Alternative: business sector is proactive and shows that quotasare not needed• Quotas for boards– don’t remedy the real problem – the very small number of women as top levelexecutives– Difficult especially for small companies24 April 2013 Women Executives / Linnainmaa4
  5. 5. Wider talent pool is the target in promotingwomen in decision-making• The long-term success of our economy requiresthat the best persons are appointed as leaders,not only the best men– New attitudes needed• Women should be less self-critical– Networking and mentoring• Employers should provide carreer paths for women as they do for men– The role of the media!24 April 2013 Women Executives / Linnainmaa5
  6. 6. Recommendation in theCorporate Governance Code24 April 2013 Women Executives / Linnainmaa6Both genders shall berepresented on the board.Recommendation 9.• In case of non-compliance, a public explanationmust be giveno Comply or Explain principleo The Code is binding for listed companiesthrough Stock Exchange regulation
  7. 7. Gender of directors in Finnish listed companies24 April 2013Women Executives / Linnainmaaonlymen49 %bothgenders51 %2008onlymen26 %bothgenders74 %2010onlymen22 %bothgenders78 %2011onlymen14 %bothgenders86 %20127onlymen13%bothgenders87%2013
  8. 8. Women on boards: 3 x more than 10 years ago• Women hold 23 % of boardseats in listed companies– 31 % in large caps(28 % in 2012, 26 % in 2011)• No quotas• No employee representatives• EU record through self-regulation!24 April 2013Women Executives / Linnainmaa8712 1417 1822 239388 8683 8278 7701020304050607080901002003 2008 2009 2010 2011 2012 2013Board composition of Finnish listedcompaniesWomen%Men %
  9. 9. 24 April 2013Women Executives / Linnainmaa• Golden skirt phenomenon is unknown in listed companies.• Merely 19 women have two board memberships.• Only five women have two board memberships in Finnish large-cap companies.men; 417men; 52men; 16women 1men; 3men; 1118women; 00 100 200 300 400 500 60012345Boardpositionspcs.Accumulation of Board positions in Finlandwomen;Women;19women; 09
  10. 10. Studies on women executives in Finland• Finnish Business and Policy Forum EVA– Report and Analysis "Women to the top!“ September 2007• Extensive study – 14,020 companies• Finnish corporations with a female CEO or a larger share of women on thecorporate board are more profitable than others – 10 % (up to 20 %) moreprofitable• examples of best practices on how to get women to the top in the businessworld• provides 10 concrete recommendations• www.eva.fi• Studies by Finland Chamber of Commerce24 April 2013 Women Executives / Linnainmaa10
  11. 11. FCC Study 2011
  12. 12. FCC Study 2012
  13. 13. • Launched on Women’s Day 2012– Ca 250 applicants– 42 accepted as mentees– Top-level mentors– Participants pay a fee for the costs• Structure– 1.5 year-programme– 4 seminars– Mentoring sessions (time span 6-8weeks)• Extra meetings and events• Networking– Participants arrenge extra meetings for learning andnetworking• A dedicated website (www.naisjohtajat.fi)• LinkedIn Group• Meetings with headhunters• Printed catalogue of participants• Quality control through surveys to mentorsand mentees– High rating: 4.22 (scale 1 to 5).• Extensive media attention and interest24 April 2013 Women Executives / Linnainmaa13Mentoring Programme of Finland Chamberof Commerce
  14. 14. 24 April 2013 Women Executives / Linnainmaa14Website for theprogrammewww.naisjohtajat.fi”Women,seize theopportunity!”
  15. 15. 24 April 2013 Women Executives / Linnainmaa15Mentoring programme topromote women leaders- Printed catalogue of participants- Meetings with headhunters- Mentors’ role- Networking- Seminars and learning- Media coverage
  16. 16. Thank you!www.twitter.com/LeenaLmaa24 April 2013 Women Executives / Linnainmaa16

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