On June 12, the Forum for Responsible Investment (FIR), an association bringing together management companies, NGOs and other stakeholders on the subject, held a progress update on the feminization of management bodies. Here is an overview of the main areas of reflection mentioned.
The importance of the 30% threshold
As a preamble, it was recalled that in order to have real influence, women must be present in a reasonable proportion within management committees. Indeed, “dIn a group, minorities act like tokens », assured Emilien Guilbaud – ESG analyst for the management company Exane AM. In other words, “ this means that they can have high visibility, but almost no influence on the decisions of a group », added this expert who is also a member of the 30% club, “ created in the United Kingdom in 2010 with the original aim of encouraging Footsie companies to achieve at least a third of women in management bodies. »
Countering the overadaptation theory
Furthermore, Viviane de Beaufort – teacher and researcher at Essec, bounced back by citing the avoidance syndrome, a problem supported by the social psychologist Serge Moscovici: “ Based on the repercussions of the quotas imposed in American universities to bring in minorities in the years 84-96, it turned out that these young people, although identified and therefore supposed to be talented, had not taken their full place, were preventing themselves from speaking… Which is a total disaster, because American pedagogy is based largely on participation. »
Therefore, for Viviane de Beaufort, it is interesting to apply this conclusion to the question of minority women in decision-making spaces. “ This is much more true for my generation than for that of our daughters, said the sixty-year-old. This overadaptation leads women themselves to complain about the behavior of their hierarchical superiors, acting like “queen bees”.
Influence spaces versus decision spaces
Likewise, “ the Zimmerman law, passed in 2011, created a sort of influx, encouraging women to move from executive positions to administrative positions, effectively drying up the reserve of executive talent, » explained Romain Guilbaut.
In this regard, Viviane de Beaufort echoed this idea: “ The system changes in the spheres of power, within. »
Thus, as part of this conference organized by the Forum for Responsible Investment (FIR), Viviane de Beaufort insisted: “ Women can deploy an ESG ambition even better when they do not occupy positions that are precisely linked to it, or other support functions. They can truly work when they are in a strategic position. »
On this point, Myriam Cohen-Wegryn, president of the dermatological beauty division of L’Oréal, does not say the opposite: “ I led Danone’s environmental transformation for four years. We were able to do wonderful things, but I quickly realized that decisions allowing real change can only be made at the heart of the business. »
Reason why this manager, member of the executive committee of L’Oréal, worked to occupy a more strategic position.
Concretely, in 2025, the feminization of management bodies reached a new stage: women represented nearly 29% of the composition of the CAC 40 Comex, according to a study by the Skema observatory of the feminization of companies. The Rixain law of 2021 requires reaching a threshold of 40%, among companies with at least 1,000 employees, by 2029.
Role models: from Marie Curie to the girl next door
During this conference, the recurring question of role models came up. “ During my interventions, I sometimes project the bust of Marie-Curie onto a slide » and explain: “ if you identify with such successes, you are making things difficult for yourself », quipped Viviane de Beaufort. “ It’s like aspiring to become Niki de Saint Phalle when you want to be a painter. Instead, I recommend building your own role model by stealing things from people you like. »
For example to Myriam Cohen-Wegryn? “ Going to my daughter’s graduation made me prevented from participating in an important trip to Japan, » said the director of L’Oréal. “ I made a post to explain, in essence, being super proud to work in a company that allows this. Your child’s diploma is only awarded once », she recalled, regretting that many French companies are still locked into very vertical models. “ When people are happy in their minds and in their private lives, it has an impact on performance. »
Finally, Viviane de Beaufort stressed that this problem is far from trivial, at a time when many employees are caught up in the question of their parents’ dependence.
On the importance of varying points of view
More diversity, for enhanced performance… and this of course goes beyond just the question of women. This example clearly shows that the feminization of management bodies can only bear fruit if it is accompanied by a wider diversity of profiles. “ Since I’ve been at L’Oréal, there has been a fairly radical internationalization of the board. When we find ourselves with two Greeks, a Mexican, two Indians, an American, a Chinese woman, we are much better armed in this changing world, in great mutation. Geopolitical issues are becoming fundamental and being able to have the cultural intelligence to read the signals allows you to make better decisions », assured Myriam Cohen-Wegryn in conclusion.
Claire Bauchart
