Women still struggle in seafood sector
Less than 10% of the board members of the 100 biggest seafood companies in the world are women, according to a report published today.
The report was the work of seafood market analyst Marie Christine Monfort, who has examined the make-up of the boards of 71 of the world’s top 100 seafood companies (as listed by Undercurrent News in 2016).
Only one company, the Japanese Marusen Chiyoda Suisan, is headed by a woman. This compares with 7% in the FTSE 100 companies listed at the London Stock Market.
Percentage of board seats held by women:
Source: MC Monfort, based on Undercurrent News Top 100 companies
Over half (38) of the 71 seafood companies have 100% male boards, while 84% of the companies analysed had less than 20% females on their boards.
“Out of the 762 board members sitting at the advisory board, the executive committee or in some case at both, of the 71 companies, 69 of them were women, (ie 9.1%). This year again, the seafood industry still confirms its ‘male DNA’ at top level,” says Montfort.
Percentage of female board members by country
Number of companies observed in brackets
Executive or non-executive?
Norway tops the table, partly thanks to the 2003 law requiring that at least 40% of public limited company board of directors be women. However, it should be noted that the proportion of women at executive and senior management positions, which is not regulated, is noticeably lower, Montfort observes.
% of women in Norwegian listed seafood companies
Source: Individual companies’ websites
“Cultural barriers are one of the major explanations for women being barred from decision making positions and many studies around the world have provided evidence that gender diversity and inclusiveness enhances corporate performance. Time has come in the seafood industry to provoke changes and tolerate, if not encourage women to participate more widely at decision making levels,” Monfort concludes.
