Greater Representation of Women in Management Brings Growth Potential

By June 30, 2026, all companies listed on the stock exchanges of EU member states must ensure that 40% of management positions or 33% of seats on management boards are held by women.

This regulation has already been implemented in the Croatian Companies Act, and Croatian companies now have the opportunity for a significant leap forward.

The importance of this process is highlighted by research on the role of women in the boards of multinational companies in Croatia conducted by Dr. Iva Ančić, head of brand and marketing communications at A1 Croatia and a member of the Association of Croatian Leaders Leadyu, which organized the research presentation. This is the first systematic study of its kind conducted on a sample of 251 multinational companies over six years.

International experiences show that the introduction of quotas yields results – Norway reached 40% women in management as early as 2008, while France has already surpassed 45%. Croatia still records fluctuations, but this underscores the importance of systematic preparation.

According to the SELECTIO index, from 2018 to 2024, we are witnessing significant fluctuations.

– From nearly 19%, it fell below 12%, then rose to a record 22% in 2023, and then decreased again to 19% in 2024. The number of companies with no women in management is increasing, which further demonstrates that progress is neither linear nor at the desired pace – emphasizes Ančić.

Although the results of the conducted research in Croatia did not confirm a direct statistical correlation between a higher share of women in management and better business results, a positive trend was observed. Over the six-year period, in certain years, companies with more than 33% women in management achieved better results, confirming that the potential is present and could become visible and measurable with greater involvement. This aligns with international research that undoubtedly confirms that diversity at the management level positively impacts business performance.

However, it is concerning that a higher share of women in management does not mean more women in managerial positions, which has also been confirmed by international research.

– Unfortunately, women do not promote women, and this is something that deeply disappointed me in my research – adds the author of the study.

The introduction of quotas in 2026 will certainly stimulate changes, but Ančić warns that they alone are not a solution. “The arrival of quotas does not guarantee change. There is a lack of structured education and open dialogue,” she emphasizes. The question of legitimacy, or the perception of women as experts, rather than just fulfilling quotas, will be, according to her, crucial for real equality.

Most respondents formally reject gender stereotypes, but they still shape attitudes and career paths in practice. Women have significantly more positive attitudes than men, while men still more frequently express doubt about women’s managerial abilities.

For multinational companies operating in Croatia, this is an opportunity to “unlock the potential” of their teams. More inclusive management structures bring greater innovation, better organizational resilience, and create the conditions for sustainable growth and competitiveness in the global market.