More and more female and older managing directors

Currently there are 921.982 managing directors working in about 800.000 companies registered in commercial registers. This corresponds to an increase by 4.0% as compared to April 2007 (886.934). Among these managing directors there are currently 771.427 men (80.5%) and just 150.555 women (19.5%). Nevertheless, the percentage of female directors is increasing. Another trend is a rising average age of managing directors. These are the findings of a study conducted by Bürgel which is a provider of business information.

There were 35.000 new managing directors in the past 12 months and 8.188 of these were women (23.4%). According to the study in question there were in particular many new female directors in the Saarland (38.7%, 67 out of 173), 30.8% in Thuringia (30.8%, 146 out of 474) as well as in Berlin with 30.0% (418 out of 1012). In total the share of female bosses, however, increased only slightly as compared to the previous year from 16.1% (142.367 women in 2007) to currently 16.5% (150.555).

The total share of female directors is particularly high in Berlin (18.4%) and in the Saarland (17.6%). In Bavaria, Brandenburg and Saxony the share of women is 16.9% respectively. In Bremen there are only 14.3% of women in such positions and 14.9% in Baden-Württemberg.

Compared to last year’s study there are some other changes too: the average age of managing directors in Germany increased from 50.5 years to 50.9 years. However, there are some differences between men and women: women reach the position of a managing director earlier than men. On average they are between one and two years younger than their male colleagues when they become directors. The average age of female directors is 49.9 years while that of men is 51.1 years.

The age structure of directors is changing as well: while in the past the group of those aged between 40 and 44 was the most important one (16.9%), now it is the age bracket of 45 to 49 years of age. Thus, in April 2008 17.1% of managing directors were aged between 45 and 49, 16.5% between 40 and 44 years and 14.7% between 50 and 54. The share of directors older than 70 increased from 5.6% last year to 6.2% in 2008. No changes were registered in the age bracket of managing directors younger than 30: their share still amounts to 2.0%.

67.8% of all managing directors are older than 45 years of age. 23.1% are older than 60. The share of those younger than 45 is 32.7% which is 0.5% less than in the year 2007. GERMAN