• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

2

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens

3

Current price of oil as of May 29, 2026

1

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

2

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens

3

Current price of oil as of May 29, 2026
MPW

Need Proof That Companies Can Have Gender Diverse Boards? Look to France

Claire Zillman
By
Claire Zillman
Claire Zillman
Editor, Leadership
Down Arrow Button Icon
Claire Zillman
By
Claire Zillman
Claire Zillman
Editor, Leadership
Down Arrow Button Icon
December 3, 2018, 10:58 AM ET

A group called European Women on Boards last week released its first-ever gender diversity index and came to this conclusion: France, far and away, has by its measure the highest share of women on company boards at 44.2%.

The index assessed gender representation at the 200 largest European listed companies in nine nations—Belgium, the Czech Republic, Finland, France, Germany, Italy, the Netherlands, Spain, and the U.K—in an effort to identify best practices. Of the 30 French companies covered in the study, 28 had boards that were at least ⅓ female.

In addition to singling out nations’ overall progress on gender diversity, the report highlighted stand-out companies:

  • France’s Kering, parent of luxury brands like Gucci and Alexander McQueen, was named as the top company for board diversity overall, with women making up 60% of its directors.
  • French hospitality group Sodexo, meanwhile, was recognized for having the highest board diversity—it’s 53.8% female—among firms with a female chair.
  • Pharma giant GlaxoSmithKline has the highest board diversity at 45.5% among companies with a woman CEO; it’s led by Emma Walmsley.

France’s high share of female directors follows its 2011 decision to mandate that women make up at least 40% of all CAC 40 boards by the end of 2017. In fact, the top three countries on this list have passed quotas requiring certain levels of gender diversity on boards.

At Fortune’s Most Powerful Women International Summit in London in June, Sodexo’s chair Sophie Bellon voiced her support for legal mechanisms that force companies to address board diversity because she abides by the belief that “what gets measured gets done.”

“When you want a company to improve sales or profitability, you just give an objective and everyone is aligned,” she said. Board diversity is just as important a topic, so it’s worth approaching in the same way, she said.

Bellon said the company had learned about improving gender balance from the U.S., since discussions about the benefits of diversity started sooner there than in Europe. But France has since leapfrogged the U.S. in share of women directors. And now the U.S. is taking its turn mimicking the European nation, as California just became the first state with a board diversity mandate.

A version of this essay originally ran in the Dec. 3 edition of The Broadsheet, Fortune‘s newsletter about the world’s most powerful women. Subscribe here.

About the Author
Claire Zillman
By Claire ZillmanEditor, Leadership
LinkedIn iconTwitter icon

Claire Zillman is a senior editor at Fortune, overseeing leadership stories. 

See full bioRight Arrow Button Icon

Latest in MPW

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in MPW

As part of her Citi turnaround, Jane Fraser cut management layers from 13 to 8. But the ‘great flattening’ doesn’t always work as intended
C-SuiteManagement
As part of her Citi turnaround, Jane Fraser cut management layers from 13 to 8. But the ‘great flattening’ doesn’t always work as intended
By Claire ZillmanMay 30, 2026
13 hours ago
Nvidia CFO Colette Kress: ‘AI is no longer a nice-to-have’
MPWMost Powerful Women
Nvidia CFO Colette Kress: ‘AI is no longer a nice-to-have’
By Sheryl EstradaMay 30, 2026
14 hours ago
TIAA CEO Thasunda Brown Duckett is trying to fix America’s broken retirement system
Personal Financechief executive officer (CEO)
TIAA CEO Thasunda Brown Duckett is trying to fix America’s broken retirement system
By Marco Quiroz-GutierrezMay 30, 2026
15 hours ago
Arianna Huffington warns Gen Z that no one with an ‘interesting job’ can simply shut their laptop at 5 p.m.—and if you can, you should change jobs
SuccessThe Promotion Playbook
Arianna Huffington warns Gen Z that no one with an ‘interesting job’ can simply shut their laptop at 5 p.m.—and if you can, you should change jobs
By Orianna Rosa RoyleMay 30, 2026
16 hours ago
Why Meta hired Dina Powell McCormick
NewslettersMPW Daily
Why Meta hired Dina Powell McCormick
By Ellie AustinMay 29, 2026
1 day ago
Meet the Black women on Fortune’s Most Powerful Women list shaping business leadership
MPWMost Powerful Women
Meet the Black women on Fortune’s Most Powerful Women list shaping business leadership
By Cheyann HarrisMay 29, 2026
1 day ago

Most Popular

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt
Economy
Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt
By Shawn TullyMay 30, 2026
19 hours ago
As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens
Magazine
As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens
By Emma HinchliffeMay 27, 2026
4 days ago
Current price of oil as of May 29, 2026
Personal Finance
Current price of oil as of May 29, 2026
By Joseph HostetlerMay 29, 2026
2 days ago
As AI slashes white-collar jobs, Salesforce CEO Marc Benioff says almost no one is being hired—except in sales
Success
As AI slashes white-collar jobs, Salesforce CEO Marc Benioff says almost no one is being hired—except in sales
By Emma BurleighMay 28, 2026
2 days ago
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
Real Estate
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
By Marco Quiroz-GutierrezMay 25, 2026
6 days ago
Gen Z is rejecting $200 dates and choosing 'solo-maxxing'—and dating apps are taking a hit
Economy
Gen Z is rejecting $200 dates and choosing 'solo-maxxing'—and dating apps are taking a hit
By Sydney LakeMay 30, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.