Women doing great things is a tale as old as time.
In the 21st century, that manifests in various ways, including in the sprawling corporations they are at the helm of.
From Daimler Truck Holdings’ Karin Rådström to Chanel’s Leena Nair, it’s hard to find an industry—or any slice of corporate Europe—that women haven’t made waves in.
Veolia’s Estele Brachlianoff joined the $49 billion French utility company 20 years ago in various capacities before becoming CEO nearly three years ago. Branchlianoff presided over the Seine River’s clean-up ahead of the Paris Olympics last year.
British pharma giant GSK’s Emma Walmsley navigated setbacks during the COVID-19 pandemic and looming activist investors, among other things, to create new growth engines in cancer treatments and other specialty medicines.
International Women’s Day is a chance to reflect on these leaders’ successes and the challenges they face. This year, Fortune curated a list of female leaders at the helm of European companies across the continent’s biggest industries. To spotlight current and up-and-coming leaders, we drew upon our flagship rankings: Fortune 500 Europe and Most Powerful Women, as well as our recently debuted Fortune Tech Leaders: Europe’s Most Influential Women list.
International Women’s Day is a chance to reflect on these leaders’ successes and the challenges they face.
While the women we highlight are pioneering in their respective fields, they also face challenges threatening to eclipse their wins. In 2024’s Fortune 500 Europe list, which ranks the continent’s biggest companies by revenue, the number of women running companies slid from 7% the previous year to 6.2%. Profits among women-led companies also declined compared to an increase among companies led by men. Although this disparity wasn’t statistically significant, according to Fortune’s data analysis team, it points to a possible glass cliff scenario in the making.
Women with board roles are far higher in European companies than in the U.S., but they fall short of the U.S. when it comes to directorial or CEO roles, according to STOXX Europe 600 data cited by Goldman Sachs in a 2024 report. Still, there’s been an uptick in women CEOs in the last 15 years in the U.S. as well as Europe.
Women with board roles are far higher in European companies than in the U.S., but they fall short of the U.S. when it comes to directorial or CEO roles.
According to STOXX Europe 600 data by Goldman Sachs 2024.
This increase in women reaching leadership positions is especially significant now, just as a slew of companies dismantle their diversity, equity, and inclusion (DEI) policies, primarily in the U.S. under political pressure, sending ripple effects elsewhere.
It’s nonetheless remarkable that the women CEOs who lead Europe’s largest companies run the gamut, affirming that there truly is no limit to their achievements as business leaders.
Automotive
Karin Rådström, CEO of Daimler Truck Holding
Rådström has been the CEO of Daimler Truck Holdings since 2024 following the departure of Martin Daum. She is the company’s first female CEO. Daimler Truck Holding ranks #55 on Fortune 500 Europe 2024.
Utilities
Estelle Brachlianoff, CEO of Veolia
Branchlianoff became CEO of Veolia in 2022 after previously serving as the COO and leading operations in the U.K. and Ireland. She ranks #83 on Fortune’s Most Powerful Women 2024 list.
Telecommunications
Christel Heydemann, CEO of Orange
Heydemann became CEO of the French telecommunications company Orange in 2022. She also sits on the company’s board of directors. She ranks #41 on Fortune’s Most Powerful Women 2024 list.
Financials
Isabelle Ferrand, CEO of Crédit Mutuel
Ferrand became CEO of France-based Crédit Mutuel Group in May of 2023, and is one of few women to lead a major European bank. She ranks #84 on Fortune’s Most Powerful Women 2024 list.
Aviation
Anne Rigail, CEO of Air France
Rigail joined Air Inter (which later merged with her current employer, Air France) in 1991 as a fresh-faced college graduate. Nearly 30 years later, Air France named her as CEO, making Rigail the first female chief executive in the company’s history. She ranks #48 on Fortune’s Most Powerful Women 2024 list.
Luxury
Leena Nair, CEO of Chanel
Nair stepped in as CEO of French luxury house Chanel in January 2022 after working as the chief human resources officer for Unilever for nearly six years. She ranks #68 on Fortune’s Most Powerful Women 2024 list.
Real Estate
Michelle M. MacKay, CEO of Cushman & Wakefield
MacKay has been the CEO of commercial real estate company Cushman and Wakefield since July 2023. The New York-listed, London-registered company is ranked #380 on Fortune 500 Europe 2024.
Pharmaceuticals
Emma N. Walmsley, CEO of GSK
Walmsley is around eight years into her effort to return the British pharma company to growth, and her work is starting to pay off. Much credit goes to Arexvy, GSK’s first-on-the-market RSV vaccine, which was a triumph for GSK after the company failed to develop a COVID jab. She ranks #5 on Fortune’s Most Powerful Women 2024 list.
Retail
Nina Jönsson, CEO of ICA Gruppen
Jönsson was appointed CEO of ICA Gruppen in 2022. She has over 20 years of experience in the retail and food industries and was previously CEO of retailer, Plantagen. ICA Gruppen is ranked #294 on Fortune 500 Europe 2024 list.
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Food and Beverage
Debra Crew, CEO of Diageo
Crew was appointed as CEO of Diageo in June 2023 after stints as the COO and president of Diageo North America and global supply. She is one of 10 women who are the CEOs of FTSE100 companies and ranks #65 on Fortune’s Most Powerful Women 2024 list.
Leaders to watch
Telecommunications
Claudia Nemat, Board Member for Technology and Innovation, Deutsche Telekom
Nemat has been a member of Deutsche Telekom’s management board since 2011. Until the end of 2016 she led the European business and since 2017 has overseen the board area of technology and innovation. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women 2024 list.
Consumer Goods
Elena Breda, Chief Technology and Sustainability Officer, Electrolux
Breda’s work emphasizes sustainable living and advancing Electrolux’s ambitious “For the Better 2030” goals, including substantial reductions in greenhouse gas emissions and energy-efficient manufacturing. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women 2024 list.
Construction
Ursula Soritsch-Renier, Chief Digital and Information Officer, Saint-Gobain
With a career spanning over two decades at leading companies including Philips and Nokia, Soritsch-Renier has driven the company’s digital transformation into a global leader in sustainable construction. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women 2024 list.
Insurance
Amanda Blanc, CEO, Aviva
Welsh-born Blanc took the top job at British insurance company Aviva in 2020 after leadership stints at Zurich Insurance Group, AXA, and Towergate Insurance. She is Aviva’s first female CEO and ranks #36 on Fortune’s Most Powerful Women 2024 list.
Soaps and Cosmetics
Barbara Lavernos, Deputy CEO, Research, Innovation and Technology, L’Oréal
Over Lavernos’s 30-year career with L’Oréal, she has spearheaded transformative innovations, including integrating AI and green sciences to revolutionize beauty products and experiences. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women list.
Women CEOs who lead Europe’s largest companies run the gamut, affirming that there truly is no limit to their achievements as business leaders.
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