Dublin – A recent analysis reveals a setback in the progress of gender equality within the upper echelons of Irish corporations. Female representation on the boards of ISEQ20 companies, the largest publicly traded companies in Ireland, has decreased from 42% to 40%, according to data released by the Government-established Balance for Better Business Review Group. This decline comes despite overall female representation across all listed companies holding steady at 38%, raising concerns about the pace of change and the sustainability of gains made in recent years.
The findings, released on Monday, March 9, 2026, highlight a complex picture of progress and stagnation. While Ireland currently ranks sixth in the European Union for female board representation – a fall from fifth position since November 2025, but a significant improvement from its 16th-place ranking in 2018 – the downward trend within the ISEQ20 index is a cause for concern. The data, analyzing board and leadership team compositions as of March 2025, underscores the uneven distribution of gender balance across the Irish corporate landscape. This situation arrives as the EU prepares to implement the Gender Balance on Corporate Boards Directive, aiming to increase female representation in leadership positions across member states.
Slow Progress at the Top
The report indicates that 45% of ISEQ20 companies now have three or more women on their leadership teams, a positive sign. However, the number of women in the most senior executive roles remains limited. Currently, there is only one female Chief Executive Officer (CEO) and one female chair on the ISEQ20 index. Across all listed companies, there are three female Chief Financial Officers (CFOs). This concentration of women in specific roles, rather than a broader distribution across all senior leadership positions, points to a persistent challenge in achieving true gender parity.
Female representation on the leadership teams of Ireland’s largest listed companies has remained stable at 26%, while the proportion of women on leadership teams across all listed companies has seen a slight increase to 26%. This suggests that while smaller companies may be making strides, the larger, more influential ISEQ20 companies are lagging behind in promoting women to leadership positions. The Balance for Better Business initiative, established by the Irish government, aims to address this imbalance and accelerate the progress of gender equality in the business sector.
Calls for Accelerated Action
Carol Andrews, co-chair of Balance for Better Business, emphasized the need for a more strategic approach to gender balance. “Gender balance should be a strategic imperative for every organisation, whatever their size or industry,” Andrews stated. According to RTÉ, she encouraged organizations to utilize the initiative’s roadmap to accelerate progress on their journey towards greater gender equality. This roadmap likely outlines specific steps and best practices for companies to implement in order to improve female representation at all levels.
Bernard Byrne, also a co-chair of Balance for Better Business, highlighted the importance of focusing on senior leadership roles. “While the positive momentum at board level is making a real difference, We see crucial there is an increased focus on senior leadership,” Byrne said. He stressed that empowering the next generation of female leaders is essential for building a stronger future for Irish business. This sentiment reflects a growing recognition that board representation alone is not sufficient; true gender equality requires women to be represented in all key decision-making positions within a company.
Government Support and EU Directive
Minister for Enterprise, Tourism and Employment Peter Burke welcomed the latest findings and underscored the importance of maintaining momentum as Ireland prepares to implement the EU Gender Balance on Corporate Boards Directive. As reported by RTÉ, Burke stated that gender balance must be a key strategic pillar for every business in Ireland. The EU directive, aimed at increasing female representation on corporate boards across the European Union, will likely put further pressure on Irish companies to accelerate their efforts towards gender equality.
The EU Directive on gender balance on corporate boards, adopted in 2022, requires listed companies in the EU to have at least 40% of their board members be of the underrepresented gender by the end of 2026. Ireland is obligated to transpose this directive into national law, and the Minister’s comments suggest a commitment to meeting these requirements. The directive also includes provisions for sanctions for companies that fail to comply.
Historical Context: Balance for Better Business
The Balance for Better Business initiative was launched in 2018 to address the gender imbalance in Irish businesses. According to the Eighth Annual Report (2025), the initiative has played a significant role in raising awareness of the issue and driving progress towards greater gender equality. The report acknowledges the dedication of the Balance for Better Business team, including the Co-Chairs, Review Group, Advisory Group members, and Programme Director.
Prior to 2018, Ireland’s ranking in the EU for female board representation was significantly lower, at 16th position. The establishment of Balance for Better Business and the implementation of various initiatives have contributed to a substantial improvement, reaching sixth place in the EU. However, the recent decline in female representation on the ISEQ20 boards serves as a reminder that progress is not guaranteed and requires continued effort.
Challenges and Future Outlook
The uneven pace of change across the business landscape remains a significant challenge. While some companies are actively promoting gender equality, others are lagging behind. The lack of women in senior leadership roles, particularly CEOs and chairs, is a key concern. Addressing this issue requires a multifaceted approach, including mentorship programs, leadership development initiatives, and a commitment to creating a more inclusive workplace culture.
The implementation of the EU Gender Balance on Corporate Boards Directive is expected to accelerate progress in the coming years. However, it is crucial that companies view this directive not as a compliance exercise, but as an opportunity to unlock the full potential of their workforce. Research consistently demonstrates that companies with diverse boards and leadership teams are more innovative, more profitable, and more resilient.
The focus now shifts to the implementation of the EU directive and the continued efforts of Balance for Better Business to drive further progress. The next key checkpoint will be the transposition of the EU directive into Irish law, expected by the end of 2026. Readers interested in learning more about the Balance for Better Business initiative can visit their website at www.betterbalance.ie. We encourage readers to share their thoughts on this essential issue in the comments below.
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