Apr 25 2023 ...
Fashion brands are choosing more female CEOs to represent them in the boardroom
31.4% of incoming CEOs were women, a 28.7% increase on 2021. Additionally, 17.4% of cases saw females replacing outgoing males versus 10.1% of males replacing females, according to the Nextail Fashion CEO Talent & Trends 2023 report.
Read the annual Nextail “Inside the mind of a fashion CEO: 2023 Talent & Trends” report to see the 5 top fashion CEO recruitment trends uncovered.
The number of females tapped as fashion leaders continues to grow
The gender breakdown in the boardroom continues to reflect a male bias for the fourth year running. In 2022, 68.9% of incoming CEOs were men and 31.4% were women, according to the latest edition of the Nextail Fashion CEO Talent & Trends report which analyzed 70+ fashion CEO changes in the past year, examined the skill sets of incoming and outgoing retail executives plus comparisons from previous years to uncover how talent choices for the top role reflect current business priorities, including gender breakdown..
The report also found that the proportion of women appointed to the CEO role is greater than the number of female leaders who exited their businesses last year (21.9%), whereas the percentage of outgoing male CEOs (78.1%) is greater than the proportion of male CEO hires.
Female fashion CEOs are outpacing males in leadership positions
Meanwhile, 17.4% of cases saw females replacing outgoing males versus 10.1% of males replacing females. This trend has been recorded for the last four years and suggests women are steadily increasing their share of fashion leadership, highlighted in the recent appointment of Delphine Arnault as CEO at Dior, LVMH’s second largest brand and the appointment of Allison Gettings as CEO at Red Wing Shoe Company, the first woman to serve as chief executive officer of the company in its 117-year history.
Women are increasingly taking the top jobs in the fashion industry, which has traditionally been dominated by men. Data shows the sector is now employing more women CEOs than the wider marketplace too with the November Challenger CEO Turnover Report finding that just over a quarter (26.4%) of new CEOs were women.
Get a copy of the annual Nextail “Inside the mind of a fashion CEO: 2023 Talent & Trends” report for more insights and the latest leadership recruitment trends.