The number of female CEOs in Denmark’s most prominent companies has more than doubled since 2018, jumping from 8% to 17% of all chief executives. This 109% increase is a headline finding from a new report released today by Alexander Hughes, which analyses the evolution of executive leadership from 2018 to 2024.
The comprehensive study is based on data from Denmark’s 1,935 largest companies (those with over 100 employees). It tracks changes in leadership against the backdrop of the Covid-19 pandemic, geopolitical unrest, and rising inflation.
The analysis reveals several key trends in leadership composition, diversity, and tenure.
Key Findings: Diversity and Tenure
Women in Leadership: The most significant shift has been in gender diversity.
- Female CEOs: The share has more than doubled, rising 109% to constitute 17% of all directors now, up from 8% in 2018.
- Female Chairpersons: The proportion has also climbed 87%, with women now holding nearly 13% of board chair positions.
International Outlook The report notes a “subdued” but steady increase in international leaders.
- Foreign Chairpersons: This group saw a 5% rise and now accounts for 32% of all chairpersons.
- Foreign CEOs: The share of non-Danish CEOs grew by 12% and now stands at 8%.
The Tenure vs. Turnover Paradox. While leadership roles are still characterised by high turnover, the average tenure for those in the job has increased.
- Longer Stays: The average tenure for a CEO has grown from 72 to 93 months. For chairpersons, it rose from 57 to 66 months.
- High Churn: Despite this, high turnover continues. In 2024 alone, nearly 20% of chairpersons and 15% of CEOs were replaced. More than half of those who departed had been in their position for less than three years.
Regional and Industry Breakdowns
The analysis also highlights significant differences across industries and regions:
- Regional Differences: North Jutland (Nordjylland) has the most experienced directors, with an average tenure of 110 months. Greater Copenhagen (Storkøbenhavn) has the highest concentration of foreign leaders.
- Industry Trends: The Manufacturing industry showed the most significant progress in gender diversity, with a 253% increase in female directors. The Trade & Transport sector was found to have the most experienced leaders overall.
According to the publisher, the report is designed to help companies benchmark, compare, and shape their future leadership strategies.
