schillingreport 2025

1 Executive Summary

For 20 years, the schillingreport has been analysing the composition of executive boards and, for the past 15 years, of supervisory boards of the 100 largest Swiss employers. During this time, the share of women in executive boards has increased from 4% in 2006 to currently 22%, and in supervisory boards from 10% in 2010 to 33% today. In 2006, not a single company had at least 30% women in its executive board, whereas today, 31 companies have reached this mark. Only 23 companies currently have no women in their executive board, compared to 88 in 2006. This greater diversity is also reflected in lower management levels and is expanding the
Gender-Diversity-Pipeline. At the same time, executive boards are composed increasingly international.

The Management Boards of Switzerland’s Private and Public Sector
When the analysis of executive board composition began in 2006, it was unimaginable that 20 years later such a comprehensive survey would be published in the form of the schillingreport, which has made and continues to make a significant contribution to transparency at the top of the Swiss economy.

In 2025, guido schilling ag is publishing the schillingreport for the 20th time. The focus has always been on data regarding
the composition of management boards in both the Swiss economy and the Public Sector. Discussions about quotas have gained attention and were officially introduced into Swiss corporate law in 2021 as gender guidelines through the revision of the Swiss Code of Obligations.

Developments in the Supervisory Board
When the analysis started in 2010, there was only 1 female supervisory board president; today, there are 7. The share of women in supervisory boards was 10% in 2010 and has steadily risen to currently 33%, surpassing the required guideline of 30% in 2024. Over the past years, companies have filled between 37% and 48% of their vacancies with women, ensuring the targeted diversification. We are on the right track. However, compared to EU countries, where France already has 48%, Italy 45%, and Norway and the UK each 44% women in supervisory boards, Switzerland still lags behind, 62% of companies now have at least 30% women in their supervisory boards, compared to just 2% in 2010. At the same time, the percentage of companies without any women in their supervisory board has dropped from 44% to 3%.

The educational background of supervisory board presidents has changed significantly over the past decade. The share of supervisory board presidents with a STEM background has increased from 22% in 2010 to 34% today. While 27% of presidents held a law degree in 2010, this share has dropped to 15%. At the same time, the proportion of economists has risen from 33%
(2010) to 41% today. Product and market expertise are becoming increasingly important in supervisory boards to ensure a strong sparring partner function for the executive board and meet the complex demands of today’s economy. Companies are placing greater emphasis on economic and technological know-how to address increasingly complex and often technology-driven challenges, including AI and digitalisation.

Generational Project Gender Diversity in Executive Boards
The share of women in executive boards increased from 4% in 2006 to 10% in 2020 over 15 years. These homeopathic steps were questionable, already in 2010, Guido Schilling referred to gender balance in executive boards as a generational project. The awareness phase lasted 15 years. The real catalyst effect only set in when companies started appointing two or more women to their executive board. Last year, companies surpassed the 20% threshold, reaching the required gender guideline. This was the awareness phase. Currently, companies report 22% women in executive boards, with 25% of vacancies filled by women. The acceptance phase in this generational project will be reached when companies move towards a balanced composition of 40-60% women and men of their executive board. Some companies already have over one-third women in their executive board, and they will be the big winners in the war for talent.

A positive trend is also visible in key executive board positions. In 2006, there were only 2 female CEOs and 2 female CFOs; today, there are 12 female CEOs and 16 female CFOs.

A Broadening Gender-Diversity-Pipeline
Since 2016, the schillingreport has been collecting data from Switzerland’s 250 most significant companies on the share of women below the executive board level. This Gender-Diversity-Pipeline in Senior management and Middle manage-
ment is crucial to determining whether companies have enough potential female leaders to take on executive board roles in the future. In the Private Sector, the share of women in Middle management has risen from 22% to 28% over the past decade, while in Senior management has increased from 14% to 21%. This broadening of the Gender-Diversity-Pipeline is the key to achieving a balanced gender distribution in executive boards and at all management levels.

Developments in Executive Boards
The proportion of executive board members without a Swiss passport increased from 36% in 2006 to 43% in 2010 and fluctuated around 45% for the following 15 years. In 2025, this figure has now reached a record high of 49%, with 63% of
newly appointed executive board members being foreigners. Neighbouring countries, particularly Germany, have struggled with a recession since COVID-19, making Switzerland and its employers more attractive. While it was more challenging to recruit qualified executives from abroad in recent years, Switzerland’s stable economic environment has once again enhanced its appeal. We have always been a country of immigration, which is reflected in the high proportion of foreigners who have spent most of their careers in Switzerland – the socalled nationals. Over the past 20 years, the number of nationalities represented in executive boards has increased significantly. In 2006, there were 23 nationalities in addition to Switzerland; today, there are 48 nationalities.

The Public Sector as a Pioneer
In the Public Sector, the share of women in Senior public officials has increased from 14% in 2016 to 26% today. Looking specifically at the Federal Administration, the share has risen from 17% in 2016 to 42% today. The Federal Administration not only has set targets but has also met them in an exemplary manner. With this progress, there are now enough qualified
candidates of both genders for top positions in the Federal Administration.

SMI Companies
SMI companies already reached the gender guideline of 30% in supervisory boards and 20% in executive boards by 2022. Compared to the overall sample without SMI companies, they are ahead of the curve. In 2006, the share of women in SMI companies was just 3%; today, it stands at 28%. In contrast, the overall sample without SMI companies has shown a slower development – from 4% in 2006 to 20% today. The Gender-Diversity-Pipeline has expanded significantly, with women in Middle management increasing from 18% in 2016 to 29% in 2025 and in top management from 11% to 24%. In 2016, the DAX surpassed the SMI with a 9% share of women compared to 6% in the SMI at the time. Today, the SMI leads with 28% women, while the DAX stands at 25%.

Yours faithfully, Guido Schilling

2 Introduction

For 20 years now, guido schilling ag has collected data on the composition of the executive and supervisory boards of the 100 largest Swiss companies. eight years ago, we began looking at the public sector, analysing the top management of all 26 cantons and the federal administration. In addition, guido schilling ag makes a request every 2 years for the 250 largest Swiss companies to disclose their statistics on the gender diversity pipeline to determine the potential for women in upper and middle management. The schilling report seeks to create «Transparency at the Top», and this is why it is recognised as an independent source for in-depth analysis of Switzerland’s management positions.

The statistics on the executive and supervisory boards of Switzerland’s 100 largest employers were gathered by the guido schilling ag internal project team. Our own research, personal interviews and direct enquiries, even at companies that do not normally make their statistics public, are what make the results of the survey so meaningful. The data completeness rate is 99% for the executive boards and 99% for the supervisory boards. The statistics on the public sector were also gathered by the internal project team, and verified by the majority of cantons, as well as the federal administration.

The 250 most important companies were surveyed directly for statistics on the gender diversity pipeline, since this data is not publicly available or researchable. The survey of the 100 largest companies and the public sector, as well as on the gender diversity pipeline, was completed on 31 December 2024.

Statistics are also gathered on the subgroups of women, foreigners, SMI companies, as well as CEOs and supervisory board presidents, to examine trends and developments there.

3 General Information about the Report

Since five ten the survey of Switzerland’s largest employers additionally includes the public sector and the composition of its top management, as well as the gender diversity pipeline of the 250 largest Swiss companies. This expanded content included some important findings in the first year, and will also reveal exciting developments in the coming years. The internal project team used the broadest possible channels to conduct its research for the schillingreport, gathering additional data directly from the companies. Even companies that rarely disclose information have provided statistics that are unavailable to the general public. The consistency of the data continues to be solid in the report’s 20th year of publication.

Data Basis

The data basis is available online and provides comprehensive information on all samples. It also contains additional analyses on the education and age of committee members, languages spoken in the public sector, etc., which are not listed in the report, and thus provides a comprehensive overview of the samples examined.

The Samples

A list of all companies included in the survey is found at the end of the Report. For better orientation, several of the samples on the list are highlighted by an appropriate colour to distinguish between them.

Private Sector Switzerland's 100 Largest Employers		Public Sector 26 Cantons and the Federal Administration		Gender Diversity Pipeline Survey of the 250 Largest Swiss Companies
Executive Boards	Supervisory Boards	Top Officials Federal Chancellor Cantonal Chancellors General Secretaries Department Heads	Federal Councillors/ Government Councillors	Executive Boards Senior Management Middle Management General Workforce	Supervisory Boards

The sample of the private economy, with the 100 largest Swiss employers, continues to be designated in the survey as the Private Sector, as it has been since 2006. The gender diversity pipeline sample, for which the 250 most important Swiss companies were surveyed, is titled Gender Diversity Pipeline. The 20 Swiss Market Index (SMI) companies were surveyed separately for both the private sector and the gender diversity pipeline. The public sector sample includes all 26 cantons, as well as the federal administration. The survey of the 100 largest companies and the public sector, as well as the gender diversity pipeline, for which the statistics have been updated this year, was completed on 31 December 2024.

Regarding the gender diversity pipeline, the situation at the two management levels below the executive board were also examined to determine whether there was any potential for the women there to move up to the next level. Senior management refers to the management teams of the executive board members, and middle management refers to those who directly report to senior management. Thus, the survey provides an overview of the three top operational management levels of the companies. For comparison purposes, the corresponding statistics for the entire workforce are examined.

The size of the samples can vary from question to question. This is because the complete data from all individuals is not available for some survey questions. With few exceptions, all percentages are rounded off to whole numbers in accordance with accepted rules, since decimal places reflect an unrealistic precision.

The survey places special emphasis on new members joining the management boards during the survey period, since this is often the best way to identify new developments and trends.

The private sector sample includes both corporate groups as well as subsidiaries that meet the criteria for selection. This apparent duplication is necessary because some subsidiaries have a dominant position on the Swiss market. For example, the survey includes both the parent company, Zurich Insurance Group, and the Swiss subsidiary, Zurich Versicherungs-Gesellschaft AG. Another example of this in this report is ABB Ltd. and UBS AG, with their subsidiaries, ABB Schweiz AG and UBS Switzerland AG. Subsidiaries, branches and corporate divisions were consistently omitted in the survey of the supervisory boards.

The size of the private sector sample varies over the years due to mergers, takeovers and the structure of SMIs. A company may also undergo internal changes so that it no longer meets the criteria for inclusion in the schillingreport. For the private sector, the schilling report currently surveys 944 executive board members at 119 companies. For the public sector, 1056 top executives in 26 cantons and in the federal administration are included in the survey. For the analysis of the Gender Diversity Pipeline, data from 155 companies were used.

The sample of the supervisory boards in the private sector is smaller than that of the executive boards, since the supervisory boards of Swiss subsidiaries and corporate divisions were not included. Inclusion of these boards would distort the picture of the sample. The schillingreport currently surveys 854 supervisory board members at 93 companies. For the public sector, 161 federal/governing council members were surveyed to determine the percentage of women. For the analysis of the Gender Diversity Pipeline, data from 155 companies were used.

Breakdown of the Surveyed Companies by Industry

For the private sector, the 2025 schillingreport surveyed 119 companies from 10 different industries. The predominant industries were the manufacturing sector (38), and retail/consumer goods (21). There are 21 companies from the financial services sector, i.e. insurance and banking.

For the gender diversity pipeline survey, 155 companies from 11 different industries were surveyed. The manufacturing industry dominates with 27 participating companies. Financial service providers – insurance and banks combined – are represented by 43 companies.

4 Management Boards of the Private and Public Sectors

The first section of the schillingreport concerns the composition of the executive and supervisory boards of the private sector, and that of the posts held by senior executives, as well as those on federal and cantonal government councils of the public sector.

4.1 Composition of the Boards

Executive Boards and Senior Managers

Between 2006 and 2016, the proportion of women on executive boards rose from 4% to 6%, the proportion of women among newly elected executive board members being relatively low. Starting in 2017, the private sector saw higher proportions of women among new management members, reaching 8% women in 2019. In 2022, there was a record growth of 4 percentage points from 12% to 17% women, thanks to 39% of newly appointed positions being filled by women. In 2024, the executive boards reached the gender guidelines with a 20% proportion of women. Companies currently fill 25% of vacancies with women, bringing the proportion of women to 22%.

The turnover rate in the public sector is lower at 11% compared to 18% in the private sector, and the proportion of women among newly appointed top executives is slightly higher at 34% compared to 25% in the private sector. Thus, the public administration achieved an increase from 25% to 26% of female top executives. When considering the federal administration separately from the cantons, the proportion of women in top management reaches 42%, with currently 36% of federal vacancies filled by women. In the 26 cantons, the proportion of women in top management stands at 25%.

The 20 SMI companies reached the gender target three years ago and currently stand at 28% female members in senior management. When looking at the sample of the hundred largest employers excluding the 20 SMI companies, it becomes apparent that they have reached the gender target in senior management at 18% female representation.

The survey only examined the percentage of foreigners in the private sector, since senior public officials are almost exclusively Swiss citizens, and a survey of the percentage of foreigners has no relevance. In the private sector, the share of foreigners on executive boards stagnated at 46%, with 63% of the new management board members in the survey year being foreigners. In other words, more than half of the newly appointed executive board members do not hold a Swiss passport.

Supervisory Boards and Federal/Governing Councils

Of the supervisory board members in the private sector the gender target had been reached last year, now 33% are women (2024: 31%). Among the newly appointed supervisory board members, 37% are women. Thus, more than a third of the vacant board seats were filled by women. Among those serving on the political boards of the federal government and the cantons, 34% (2024: 31%) of all federal and governing council members are women, while 43% (2024: 43%) of those serving as councillors in the federal government alone are women.

In the SMI, the proportion of women on supervisory boards remains stagnant at 35%. When considering the hundred largest Swiss employers excluding the 20 SMI companies, these currently achieve a female representation of 32% on the board of directors, thus meeting the required gender target.

The share of foreigners on supervisory boards of the private sector is 37% (2024: 37%), while 38% of the newly elected supervisory board members do not hold a Swiss passport. This survey of foreigners was not conducted in the public sector because political officeholders are almost exclusively Swiss citizens.

4.2 Areas of Responsibility of Senior Federal and Cantonal Officials, and of Executive Board Members

Areas of Responsibility of Top Federal and Cantonal Officials

In addition to the overall sample, three different areas of responsibilities or function groups are identified at the top levels of the public sector. The 26 cantonal chancellors and the federal chancellor are examined separately, as are the general secretaries and department heads.

Areas of Responsibility of Executive Board Members
Executive board members are divided into business and service functions in the survey. The business function includes all turnover-related positions at the company and/or all functions in the company’s core business, such as sales, marketing responsibilities, research and development, and production. Service functions are all positions that play a supporting role at the company and have no direct impact on sales, such as human resources and communication.

While 70% of executive board members have a business function, the figure for new members is 71%. While more than the half of the women (53%) manage a support unit, a more then three quarters (76%) of the male executive board members work in the company’s core business, and just a quarter in managing service units.

4.3 Experience of the Board Members

When examining the experience of the board members in the private sector, two essential questions arise: What professional experience did the executive and supervisory board members have prior to being appointed to a board? And how long have they been at the company? In the public administration, on the other hand, the question of the permeability of the boundary between the public and private sector arises.

Private Sector

Executive Boards

A total of 55% of executive board members worked at the company prior to joining the board and were recruited internally. This indicates the importance of managing internal talent. Among executive board members, 25% had sat on the board of another company prior to being appointed. By contrast, just 15% had no relevant experience at the same company or on another executive board. This is due in part to the recruitment from large corporate groups of managers who had not held posts on the top management board of the company, but instead on a lower board at the divisional level of corporate management, for example. Among new members, 20% had neither experience on another executive board nor were recruited internally. 51% of the newly appointed managers were already working at the company when they were appointed to the executive board. The number of new managers with experience on another executive board was 25%.

There were some particularly interesting findings in the analysis of the average experience of executive board members. An examination of the period during which an executive board member has been employed at a company reveals that managers promoted internally must work at the company longer (an average of 10 years) before they are appointed to the executive board than members with external experience at the same hierarchical level – even if only at an SME. The latter are appointed to the management board after an average of just 8 years.

Comparing the 64% of internally promoted men with the 52% of internally promoted women reveals that internally promoted women were brought into the executive board after 8 years of tenure, while men, with 10 years, were active in the company 2 years longer than women before their appointment to the executive board.

Supervisory Boards

A total of 853 supervisory board members were surveyed this year. Of these, 173 had already worked for the company before joining the board (20%). Of the latter, 22% were CEOs, 9% were part of executive board, and another 1% held both of these posts. Therefore, experience at the company is an important factor in being selected to serve on the supervisory board. However, an even more interesting statistic is that, before being appointed, 12% of all 853 supervisory board members sat on the executive board of another company included in the schillingreport. 65 people in the sample are members of several supervisory boards, holding a total of 145 seats. In addition, 49 executive board members also sit on the supervisory board of another company included in the report.

The average supervisory board member has held the post for 6 years. With an average of 10 years, supervisory board members who worked in operations at the company beforehand have a little more seniority. They have been with the company an average of 19 years and were appointed to the supervisory board after an average of 9 years. The new supervisory board members were appointed to the strategic management board after an average of 9 years.

Public Sector

In analysing the experience of the senior officials of the public administration, the issue of the permeability of the boundary between the public and private sector comes to the forefront. It is also interesting to learn what career experience these individuals had prior to taking their current position, and how long they have been working for the cantonal/federal government overall.

Length of Service

The average length of service of the individuals surveyed is 7 years. The male cantonal chancellors have served the longest, an average of 9 years. The survey results show that women have served less time than men overall in those posts. The department heads stand out in particular, with the average length of service for male department heads being 4 years higher than that of female department heads.

Experience

Before assuming their current post, 51% of the individuals surveyed worked continuously in the same canton or in the federal administration. Therefore, more than half of these senior officials were recruited internally. On average, these persons have been working in the federal/cantonal administration for 18 years, achieved their current post in 11 years, and have been working in it for an average of 7 years. Those who had not previously worked in the same canton or in the federal administration have also been working an average of 7 years in their current post.

Permeability

Overall, 51% of the senior officials surveyed already worked for their current cantonal/federal employer prior to taking their current post. A total of 33% of these individuals once worked in the private sector before taking their current position. 2021 it was a bit less with 47%. In 2020, this figure was 49% and 2019 it was 48%. The boundary between the private and the public sector increased from 32% (2021) to current 33%. A total of 67% had previously worked for another public administration. And 14% had previously worked in both the private as well as the public sector. This means that many public managers have accumulated extensive experience throughout their careers beyond the organisation they work for now, facilitating a broader view of the professional world.

Of the 113 people who were newly appointed to their posts in the survey period, 51% were recruited internally (2021: 63%). A total of 76% of the new people previously worked in another public administration capacity, while 50% had experience in the private sector, 36% in both public administration and the private sector. In most cases, cantonal chancellors are recruited from within the cantons/federal government. In this survey, 57% of the cantonal chancellors were recruited internally for their posts. This figure is 49% in the case of the general secretaries, and 44% for department heads. A third of department heads (33%) bring experience from the private sector, while for general secretaries it’s 34%, and for heads of chancellery supervisors, it’s 28%.

5 Gender Diversity of the Private and Public Sectors

This chapter focuses on the shares of women in the examined samples of the private and public sectors as well as the gender diversity pipeline of the participating companies. The gender diversity pipeline sample, in which the 250 most important Swiss companies were surveyed, is different from that of the 100 largest Swiss employers surveyed since 2006. The figures for the gender diversity pipeline are collected every two years. Current figures are available for this year’s report.

5.1 Overview of the Shares of Women

For the 155 companies surveyed, the percentage of women on the supervisory board is 30%, 3 percentage points higher than the figure for the last survey in 2023. Supervisory board president positions amount to 7% (2023: 7%). While 39% of the total workforce is made up of women, 28% work in middle management and 21% in top management. A clear and continuous decline in the proportion of women can be observed from one hierarchical level to the next. At the executive board level, this percentage has again fallen; in the companies surveyed, women account for 20%. At each of these levels, the proportion of women has increased between 1 and 3 percentage points each since 2019. 7% of CEOs are women. In the public sector sample, 20 cantons and the Swiss Federation evaluated their percentages of women at the levels below senior public officials, and the picture is similar to that of the 155 private sector companies, although with higher values. All 26 cantons and the federal administration were evaluated for the senior public officials. In the included cantons, almost half of the workforce consists of women with 49% (2023: 46%), 36% at middle management level (2023: 29%) and 34% at senior management level (2023: 21%).

The figures above can be easily displayed as a pipeline by means of these graphs, which clearly shows that the percentages of women are significantly higher in the lower levels than at management level. The pyramid shape is characteristic of many participating companies and their industry values, with large differences in the proportion of women within the industries.

5.2 Shares of Women at the Companies per Hierarchical Level

An analysis of the shares of women by hierarchical level is particularly interesting with regard to the frequency distribution of companies and is intended to show which shares of women are most strongly represented. The distribution shows how different the starting positions of the participating companies currently are with regard to gender diversity: The precursors are rapidly approaching a balanced representation of the sexes in management bodies. There is a large group of companies that have considerable potential to catch up at all levels of the hierarchy.

Executive Boards

26 companies or 20% of the total sample have no women in executive board positions and much less than in 2023 with 31%.A cluster of 45 companies counts between 11 and 20% women in executive board positions. At first glance, the small number of companies (5) with a share of women between 1 and 10% seems to be out of line with the trend. However, it is due to the fact that many executive boards have fewer than 10 members, which makes a single-digit percentage share impossible. Only 32 companies (25%) have more than 30% women in executive board positions.

Senior Management

6% (8) of the companies surveyed have no women in senior management, which is the same as in 2023. 53% (60) of companies have between 1 and 20% female executives in senior management. 47% of companies (60) have over 20% women in senior management. Only 24 companies at this hierarchical level achieve a share of more than 30% women.

Middle Management

No company employs more than 0 women in middle management. The highest concentration of companies is clearly in the range between 11 and 30% of women (64). 47 companies employ more than 30% of women in middle executive board positions. In 8 of these companies, women make up more than half of managers at this hierarchical level. A similar picture to 2023 can be seen with a slightly positive shift to the right.

General Workforce

Companies most often employ 21 to 50% women in their general workforce. These 77 companies represent 60% of the companies surveyed. 20 companies (15%) employ less than 20% women. 59 (46%) of the participating companies have a majority female general workforce.

The overall pattern is therefore also clear when comparing the hierarchy levels: The higher the hierarchy level, the lower the probability that more than 30% of women are represented. If 82 companies meet this criterion at the general workforce level, there are 47 companies in middle management, 24 in senior management and 32 in the executive board.

Supervisory Board

10 companies (8%, 2023: 10%) have no women on the supervisory board – this is significantly less than on the executive boards, but more than in senior management. 66 companies (55%) already employ more than 30% female supervisory board members, an increase of 14 percentage points compared to 2023. The majority of companies (46 and 38% respectively) have 11 to 30% women on the supervisory board.

5.3 A Breakdown of Gender Diversity at the Companies by Sector

The various sectors of the economy have very different basic requirements in terms of gender diversity. These requirements must be considered when assessing the potential of specific measures to strengthen gender diversity. The shares of women in basic and middle management positions vary widely from industry to industry and thus affect the ability of a single company to build and lead a broad pipeline of female talent.

An Overview of the Shares of Women per Sector

In this report, the 155 participating companies were assigned to 11 industry clusters, which allow a comparison with similar companies on the one hand, and between industries on the other.

Ten of the 11 industry clusters examined have sufficient companies to determine a representative industry profile – the minimum number of companies per industry was set at 3. The sample is dominated by the manufacturing industry with 27 and banks with 30 participating companies. Only 1 company each from the wholesale trade/commodities industry participated in the report, which is why these results are not published.

Shares of Women by Hierarchical Level in Industry Comparison

The business services sector cluster accounts for the largest share of women in the insurance (50%), while the lowest figures can be found in the energy (21%). The other industries are relatively close to the mean of the total sample (39%). At the middle management level, the highest share of female executives within companies can be found in the real estate (48%), retail/consumer goods (38%) and life sciences (37%) sectors. The other sectors have shares between 20% (manufacturing Industry) and 31% (media/ICT).

In senior management, life sciences cluster have the highest share of women at 28% respectively followed by the retail/consumer goods sector with 27% and energy industry with 25%. At this hierarchical level, the Media/ICT, transport/logistics/tourism and energy sectors have the fewest female executives with each 14%. The situation regarding executive boards is somewhat similar: The business services (23%), transport/logistics/tourism and life sciences (each 21%) sectors have the highest share of female executive board members. The real estate sector (10%) and manufacturing industry (9%) have the lowest shares of female executive board members.

Shares of Women in Individual Industries

The sectors have very divergent basic requirements with regard to the share of women, which can be taken into account when setting diversity targets and defining relevant comparative values. For this reason, a detailed look at the starting position and the current pipeline of female talent currently available in the individual industries is of interest.

Banking

The banking industry sample analysed comprises 24 institutions, including the two major banks, several private, regional and universal banks and cantonal banks. Compared to the total sample, the share of women in the general workforce is significantly higher at 41%. In contrast, the share of women in middle management is below average at 25% (2021: 24%). 15% of the executive board members in the participating banks are female.

Insurance

The 13 insurance institutions participating in the report have an average of 49% women on their general workforce. Therefore, there is great potential to further enhance gender diversity at the top through internal talent development. The share of women in middle management has increased. 31% (2021: 26%) of women work in middle management and 19% (2021: 19%) in senior management – similar values as in the total sample. One insurance company (9%) is managed by a female CEO, 14% (2021: 10%) of the members of the executive board are female.

Media/ICT

The media, IT and telco companies are jointly identified as a industry cluster because the requirements profiles and areas of activity of these companies are converging. This industry cluster with 7 companies has a high share of women in the executive board (16%). In senior management 14% women are employed; an increase of 5 percentage points for the executive board compared to 2021, but a decrease of 2 percentage points for senior management. The general workforce stayed constant with a share of women of 29% compared to 2021. There are no female CEOs in the participating companies. The values in the executive board are comparable with the overall sample and the values in senior and middle management are slightly lower. Since the share of female employees is only 289 overall, this industry is already relatively successful in developing its internal talent.

Business Services

The share of women in the general workforce is with 56% significantly higher than the total sample (37%). This broad pipeline is manifested at the management levels: 35% (2021: 54%) women in middle management, 27% (2021: 25%)in senior management and 23% (2021: 22%) in the executive boards. All values lie significantly above those of the total sample.

Transport/Logistics/Tourism

The share of women in the general workforce of the 8 participating companies from the transport, logistics and tourism sectors was below average for the sector (19%), and this was reflected at a management level. On executive boards the share of women was 21% (2021: 10%), senior management 14% (2021: 20%) and middle management 11% (2021: 19%).

Real Estate

The share of women in the general workforce of the real estate industry was slightly below average, at 31%. 29% of managers in middle management were women, and 19% in senior management. These are high shares compared to the entire sample. There were no women on executive boards in the real estate sector in 2019; this year the share increased to 10%. There are currently still no female CEOs. For women, the real estate career ladder is harder to climb to the top than in other sectors.

Manufacturing Industry

This cluster includes the machinery, electronics and metal industries, the precision industry and industrial construction suppliers. On the one hand, these 25 companies have a very low share of women in the general workforce, some 29%. In middle management (18%) and senior management (15%), however, the industry cluster approaches the average share of the overall sample. In the manufacturing industry, 9% of executive board members are women, while none of the companies has a woman as CEO.
This is characteristic of the pipeline for women at industrial companies: a smaller share in the general workforce that nonetheless tapers off less sharply toward the top than in other sectors. Therefore, by comparison with other sectors, Swiss industrial enterprises have been relatively successful in tapping the potential of in-house talent. However, a further increase in gender diversity will require an increase in the share of women in the general workforce and in middle management.

Energy

The 3 companies in the energy sector have the lowest share of women (22%) in the general workforce. The pipeline atypically widens at management level. In middle management as well as in senior management, the share of women lies with 39% and 19% respectively clearly above the average of the entire sample. At senior management level, however, the share of women, at 14%, is below the average. Of the 3 companies, 1 of them had a female CEO at the end of 2022, which is 33%.

Life Sciences

The life sciences sector, which includes chemical, pharmaceutical, medical technology and biotechnology companies, has a general workforce that is 42% female, which is above average, and 1 percentage point higher than in the last survey. However, the participating companies in this sector have been very successful in tapping the potential of their general workforce and preparing women for middle management: At 34% (2021: 33%), the number of women in middle management of the life sciences sector is high. In senior management, the share of women is also above average at 25% (2021: 25%). On the executive boards, 20% (2021: 17%) of the members are women, while there is 1 female CEO in the life sciences sector. Very good conditions have been established in the sector to consistently promote talented women in middle management and bring them into senior management and onto the executive boards.

Retail/Consumer Goods

This industry cluster includes retail trade, food and other consumer goods enterprises. This cluster stands out with a high share of women in the general workforce of 46%, clearly over the average of the entire sample. The respective values in senior management (28%) and in middle management (38%) as well as the value on the executive board (21%) are clearly above average. The pipeline for female talent is highly typical: It tapers off significantly toward the top of the hierarchy.

6 Nationalities in the Private Sector

The internationalisation of companies also brings changes to their management boards. It is not just the best managers in Switzerland who are in demand today but the best international managers. A clear sign of this is that English is increasingly becoming the corporate language. This trend merits special consideration. A survey of nationalities in the public sector was not conducted, since the public sector employs almost exclusively Swiss citizens, and a survey of the percentage of foreigners is of no relevance.

6.1 Executive Boards

Overview of Foreign EB Members

The proportion of foreigners on executive boards rose continuously by 9 percentage points from 2006 to 2011, from 36% to 45%. It was not until 2025 that this figure rose to its highest ever level of 49%, with 63% of the newly appointed members of the executive board not holding a Swiss passport. It is particularly interesting that more than half of the female members of the executive board, namely 55%, do not have a Swiss passport, while the figure for men is less than half at 47%.

After stagnating at 63% between 2016 and 2018, the proportion of foreigners on the management boards of SMI companies rose to 65% in 2019 and to 67% in 2020. Currently the figure stands at 73% again. This share is therefore well above the overall sample, which is 49%, representing a difference of 24 percentage points.

The proportion of foreign CEOs increases at 43% (compared to 37% in 2024). Among the foreigners in the overall sample, the percentage of women, at 25%, is more than the share in the overall average (24%).

There are no Swiss members on 15 of the executive boards examined in the report (13%), while all of the executive board members at 20 of the 119 companies surveyed (17%) are Swiss. Last year, this figure was higher, by 18%. Both of these figures are low, which means that the companies have mixed management boards in terms of nationality.

Nationality of Foreign EB Members

Most of the foreign executive board members continue to be from Germany (135 of 461, or 29%). The 106 Anglo-Saxons (U.S., GB, AUS, CAN, IRL) represent a total of 23% (2024: 26%). Germans and Anglo-Saxons also represent the majority of the 105 new executive board members. The 38 German members account for 36%, representing an increase from last year (2024: 32%). In contrast, the 22 Anglo-Saxons now represent 21% (2024: 23%).

6.2 Supervisory Boards

Overview of Foreign Supervisory Board Members

With 37%, the proportion of foreigners on the supervisory board stagnates compared to the previous year and currently stands 12 percentage points below that in the executive board (49%). Among the supervisory board presidents, there are 29% more foreigners than in the previous year (2024: 26%). The number of foreign CEOs increased from 37% to 43%. The proportion of women among the foreigners is 38%, somewhat higher than the 33% in the overall sample, and it has continuously increased since the survey began. Among new foreign members, the proportion of women is lower with 36% than the 37% of the overall sample. The 59% of foreign supervisory board members at SMI companies is 22 points higher than that of all foreign supervisory board members (37%).

At 3 of the companies surveyed (3%), there are no Swiss supervisory board members, while all of the supervisory board members at 20 of the 93 companies surveyed (22%) are Swiss.

Nationality of Foreign Supervisory Board Members

The 72 Germans are also the largest group among the 317 foreign supervisory board members, representing 23%. The U.S. is the second largest group with 22% (69 people), followed by Great Britain with 17% (55), and France with 9% (28). There are a total of 95 Anglo-Saxons (U.S., GB, CAN, IRL) representing 30%. Among those from German-speaking countries, Germany and Austria make up a total of 26% of foreign supervisory board members (83 people), which is 4 percentage point less than the Anglo-Saxons. So while the Germans have significantly more members on executive boards than the Americans, the situation is different on supervisory boards: Although there are also more Germans on supervisory boards, they represent only about 1 percentage point more than the Americans.

This year there are 36 new foreign supervisory board members, reflecting an interesting trend with respect to previous years. In 2018, the Germans represented the largest group by far with 31%, followed by the U.S. with 18% and the British with 8%. Overall, Anglo-Saxons (U.S., GB, CAN, IRL) represented 31% (12) of the new supervisory board members, while Germans and Austrians represented a total of 33% (13 members). In 2019, members from the U.S. represented 18% (9) of the new supervisory board members, followed by the Germans, who represented 14% (7), and ahead of the British, who represented 10% (5). Altogether, the Anglo-Saxon countries represented 36% of the new supervisory board members. In 2020, Germans were again second with 3 new supervisory board members (10%) behind the U.S. with 12 (39%), but in front of the Anglo-Saxons (British and Canadian), the Netherlands and Spain with 2 seats (6%) each. Currently, Germans are once again in the lead with 9% (8), ahead of Americans with 6% (6). The Anglo-Saxon countries (U.S., GB, AUS, IRL) foreign supervisory board members with 13% (12) than Germans and Austrians together, with 9%.

6.3 Women

Overview

Among the female executive board members, there are again more Swiss nationals (49%) than last year (45%). At 57%, there are also more Swiss women on supervisory boards than last year (55%), although the figure has levelled off at 60% over the last 5 years. This suggests that the self-image of women pursuing a career is higher abroad than in Switzerland. Socially, politically and corporately Switzerland has a lot of catching up to do in this area.

Nationality of Foreign Women on Executive Boards

The largest group among foreign women is made up of Germans: 26% (25) of all female foreign executive board members have a German passport (19% in 2024). US-American women (15) follow in second place with 15% (20% in 2024). French and British women (14) follow in third place with 14% (12% in 2024), 6% (6) come from Belgium, 4% (4) from Italy, and 3 (3%) each from Australia, Denmark, Canada, the Netherlands, Sweden and Spain. The 41 newcomers include 4 (10%) British women, 3 (7%) French women and 6 (15%) US women, with 8 (20%) coming from Germany. Of the 9 new female SMI executive board members, 1 (11%) has a Swiss passport (2024: 4), while the 8 foreign SMI managers come from Australia (2), the USA (2), the UK (1), Romania (1), Germany (1) and Italy (1).

Nationality of Foreign Women on Supervisory Boards

Among supervisory board members, 57% are Swiss women. Last year, it was also 55%, and in the previous year, it was 56%. Looking only at the 120 foreign female supervisory board members, Anglo-Saxons account for 36% (43), with over half (22%, 26 people) holding a US passport. Germany is represented by 16% (19) of female supervisory board members, the UK by 8% (10), France by 7% (8), China by 5% (6), Canada by 4% (5), the Netherlands, Austria and Singapore by 3% (4 each), Finland, Italy, Sweden, Spain and South Africa by 3% or 3 female supervisory board members each. Three other countries each provide 2 women (2%), and 13 countries each have 1 woman (1%). If SMI companies are excluded from the analysis, the proportion of Swiss women (135) among the 206 supervisory board members is 66%. This is explained by the fact that 41% (49) of all 120 of the foreign female supervisory board members work at SMI companies. Therefore, SMI-listed companies are the most internationalized with respect to female supervisory board members.

7 A Look at Interesting Subgroups

This separate analysis of interesting subgroups and industries is based on extensive findings in the private sector and on the gender diversity pipeline, and on a comparison with the overall sample. The analysis is intended as a starting point for a better understanding of specific developments and trends in Switzerland.

7.1 CEOs and Supervisory Board Presidents

CEOs and supervisory board presidents warrant special attention. Their statistics were examined separately from the overall survey data because they reveal how the path to the top of a company might look.

Overview of CEOs and Supervisory Board Presidents

CEOs

In the current survey year, a total of 26 CEOs were newly appointed to their position, which corresponds to a share of 22%. Among the 120 CEOs, men clearly dominate with 90%, with the proportion of women stagnating at 10% compared to last year (2024: 8%). The 12 female CEOs are Philomena Colatrella (CSS Versicherung), Sabine Keller-Busse (UBS Switzerland AG), Magdalena Martullo-Blocher (EMS-Chemie Holding AG), Michèle Rodoni (Die Mobiliar), Nora Teuwsen (ABB Schweiz AG), Ricarda Demarmels (Emmi Schweiz AG), Hanneke Faber (Logitech International SA), Lara Skripitsky (McDonald’s Suisse Holding SA), Suzanne Thoma (Sulzer AG), Nadja Lang (ZFV-Unternehmungen), Géraldine Picaud (SGS) and Susanne Wille (SRG).

The number of CEOs who are foreigners equals 43%, which is considerably lower than in the overall sample (49%). The foreign CEOs reached their peak in 2011 at 44%, and has since declined. The SMI CEOs are clearly more international: Compared to the previous year, the figure has risen dramatically, with 75% of all SMI CEOs currently holding a foreign passport (60% in 2024).

Supervisory Board Presidents

There are 7 female supervisory board presidents. These are Wendy Becker (Logitech International SA), Nayla Hayek (The Swatch Group Ltd.), Ursula Nold (Migros-Genossenschafts-Bund), Monika Ribar (SBB Schweizerische Bundesbahnen), Suzanne Thoma (Sulzer AG), Esther von Ziegler (ZFV-Unternehmungen) and Petra Rumpf (Institut Straumann). The proportion of women among the supervisory board presidents increases from 6% to 8%.

29% of the supervisory board presidents do not hold a Swiss passport. Currently, 11% (equivalent to 10 positions) of the supervisory board presidents have been newly filled. Among these, 40% do not hold a Swiss passport, which corresponds to a decrease of 6 percentage points compared to the previous year (2024: 46%).

Nationality of CEOs and Supervisory Board Presidents

Nationality of Foreign CEOs

Among the 119 CEOs, 67 (56%) hold a Swiss passport. The 20 Germans (17%) represent the largest group of foreign CEOs, as they do on the executive boards. The 7 French CEOs (6%) are in second place. The Dutch CEOs are in third place with 5 representatives (4%). The US CEOs are in fourth place with 4 (3%), followed by the Austrian CEOs with 3 (3%) representatives and finally Italy and South Africa with 2 representatives (2%). Of the 26 newly appointed CEOs, 10 are Swiss (38%), compared to 58% in the previous year. In addition, 7 Germans, 4 French, and 1 each from Norway, Australia, Austria, Ireland and the USA were appointed.

Nationality of Foreign Supervisory Board Presidents

The percentage of Swiss supervisory board presidents is higher than that of Swiss CEOs. While 67 (56%) of the 119 CEOs are Swiss, 66 (71%) of the 93 Supervisory presidents hold a Swiss passport. The 7 Germans represent the largest group, representing 26% of all foreign supervisory board presidents. They are followed by Belgians with 5 (19%) and the Swedes as well as the US-Americans with 2 (7%) supervisory board presidents. The foreign supervisory board presidents represent 15 different countries, i.e. most countries are represented just once. A similar pattern can be observed in past years.

Experience of CEOs and Supervisory Board Presidents

CEOs

66% of the CEOs were already working within the company before their appointment and were thus internally promoted. Currently, 22% (equivalent to 26) of the CEO positions have been newly filled. Of these new CEOs, 69% were internally promoted.

On average, the CEOs have held the position for 4 years. Internally recruited CEOs have been at the company an average of 10 years, were appointed to the executive board after an average of 8 years, and as CEO after 4 years.

Supervisory Board Presidents

72% of the supervisory board presidents were already working in an operational or board capacity within the company before being appointed to the chairmanship. Just 28% (2021: 25%) of the presidents were appointed from outside the company. A total of 49% (2024: 52%) were on the supervisory board, 27% of them were CEOs (2024: 27%) and/or 2% (2024: 8%) were members of the executive board, prior to their appointment as supervisory board president. Among the newly appointed presidents, 10% (2024: 31%) were already on the supervisory board.

On average, SB presidents have been in the post for 6 years, while the average is 7 years for internally recruited presidents, thus slightly longer. Those presidents who were already supervisory board members have held seats on the current board an average of 13 years, and those who worked in operations beforehand have been at the company an average of 17 years. The externally recruited supervisory board presidents have held the office 6 years on average.

7.2 SMI Companies

The blue-chip SMI is Switzerland’s most important stock-market index and includes the 20 largest SPI (Swiss Performance Index) stocks. The SMI accounts for around 85% of the total capitalisation of the Swiss stock market. SMI companies are the leaders in internationalisation, but also in other areas. The SMI companies are analysed as a separate subgroup to identify important trends in relation to the future evolution of Swiss management boards.

Composition of SMI Executive Boards

At SMI companies, the share of women on executive boards increased by 10 percentage points over 9 years, from 3% in 2006 to 8% for the first time in 2013. After falling to 6% in 2014 and stagnating for two years, it has been rising again since 2017 and reached 10% in 2019. Last year, SMI companies increased the share of women on executive boards to 38%. Currently, SMI companies fill 28% of vacant executive board positions with women (2022: 45%).

The proportion of foreigners on the executive boards of SMI companies has been steadily increasing in recent years, reaching a peak of 75% in 2023. Thus, two-thirds of the executive board members of SMI companies did not hold Swiss passports. Currently, this value is stagnating at 73% since last year. Therefore, the composition of executive boards at SMI companies tends to be much more international than the overall sample (51%). An interesting trend has developed regarding CEOs at SMI companies. Seven years ago, the percentage of foreigners among SMI chief executives was 71%. Six years ago, it dropped to 55%, four years ago it reached 45%. Currently, SMI companies also record 75% CEOs with foreign passports.

Composition of SMI Supervisory Boards

Compared to the overall sample of supervisory board members at 33%, SMI board members have a higher proportion of women at 35%. This value has increased by one point of percentage since last year. In SMI boards, the proportion of foreigners increased from 58% last year to 59% currently. The proportion of foreigners among new SMI supervisory board members is 50%, compared to 56% last year. Of the 20 SMI SB presidents, 9 hold a Swiss passport, or 45%.

Nationality of SMI Management Boards

Executive Boards

With 50 members, the Anglo-Saxon countries (U.S., GB, AUS and CAN) make up 38%, or more than a third of the 131 foreigners on SMI executive boards. With 27 members (21%), Germany is in second place after the U.S., which represents 23% (30 members) and before Great Britain with 12% (16 members). France is fourth with 8% (10 members).  This picture is different among the new SMI executive board members: 26% of the new foreign SMI executive board members are Americans (6 members), and 20% are Germans (5 members). There are also 3 French and 3 British among the new members (each comprising 12%). The comparison between the overall sample and the SMI shows that German managers play a subordinate role in SMI companies, while they clearly dominate among the foreigners in the overall sample.

Supervisory Boards

The picture is somewhat similar on SMI supervisory boards. At 42%, the 51 Anglo-Saxons (U.S., GB, CAN and IRL) also represent the dominant share of the 122 foreigners, the largest group among them being the 35 U.S. citizens, representing 29%. The 17 German members are the second largest group with 14%, and the 7 British members are the third largest with 6%, closely followed by the 6 Belgians, Canadians and South Africans, who represent 5%: Of the 8 newly appointed foreign SMI supervisory board member, the 5 Anglo-Saxons (3 U.S., 1 AUS and 1 IRL) is the biggest group (38% and 13%). Sweden has two further members (25%) and France one further member (13%). The USA therefore has significantly more supervisory board members than Germany, both in the SMI companies (35 to 17) and in the overall sample (26 to 19).

Areas of Responsibilities of SMI Executive Board Members

Executive board members are divided into business and service functions in the survey. The business function includes all sales-related positions at the company and/or all functions in the company’s core business, such as sales, marketing responsibilities, research and development, and production. The service function includes all positions that play a supporting role at the company and have no direct impact on sales, such as human resources and communication.

While 67% of SMI executive board members have a business function, the figure for new members is 81%. The number of all SMI executive board members is above the overall sample (71%); the number of newly appointed members is below the overall sample (61%). Among female SMI executive board members, 38% have a business function, while 56% of the new female members do.

Experience of SMI Board Members

Executive Boards

A total of 59% of the SMI executive board members worked at the company prior to joining the board. Among executive board members, 24% had sat on another executive board prior to being appointed, while 13% had no relevant experience at the same company or another executive board. Among the new SMI executive board members, 13% (2022: 36%) had no relevant experience at the same company or on another executive board.

An analysis of the length of service of executive board members reveals that internally promoted SMI managers have to work longer at the company, an average of 4 years, before being appointed to the board than those in the overall sample, who are appointed after just 10 years. SMI executive board members have 8 years of experience at the company on average, compared to 15 years in the overall sample. SMI executive management board members with external executive management experience – even if only at an SME – join the management board after 4 years on average, same length as in the overall sample.

Supervisory Boards

Internally recruited SMI supervisory board members have worked an average of 24 years at the company and were appointed to the supervisory board after 14 years. The average SMI supervisory board member has held the post for 6 years, which is the same as in the overall sample.

A total of 207 SMI supervisory board members were surveyed this year. 15% of these members had already been working for the company before joining the board. Of these, 38% were previously CEO, 16% were on the executive board, and 0% had been both executive board members and CEOs. Of all of the 207 supervisory board members, 13% sat on the executive board of another company included in the schillingreport before their current appointment. In addition, one person sits on 3 SMI supervisory boards at the same time, 3 people sit on 2 SMI supervisory boards at the same time and occupy a total of 9 SMI supervisory boards.

Gender Diversity Pipeline of the SMI Companies

11 out of the 20 SMI companies took part in the survey, which represents an above-average participation rate of 55%. SMI companies have an average share of women in their workforce of 42%, which is 5 percentage points higher than in the overall sample and an increase of 6 percentage points compared to 2021. The share of women is 34% (2021: 26%) in middle management, and 26% in senior management (2021: 26%). The percentage at these hierarchical levels is higher than those in the overall sample (27% and 20% respectively). Women at SMI companies represent 23% (2021: 18%) of the executive board members, clearly above the share in the overall sample. All SMI companies are led by a man, which means that the share of women at the CEO level is 0%.

7.3 Enterprises Affiliated with the Swiss Confederation

The four major companies affiliated with the Swiss Confederation – Swiss Post, the defence manufacturer Ruag MRO, the Swiss Federal Railways (SBB) and the telecommunications provider Swisscom – are among the largest employers in Switzerland. The results here are of special interest, because the federal administration wishes to take a leading role on matters of gender diversity. A survey of these companies also allows us to consider the impact on gender diversity of the politically established framework conditions in comparison to the overall sample.

On the executive boards of the four companies, 17% of the members are women, which is above average of the executive boards, and represents a 7 percentage points increase compared to 2021. Of the senior managers, 18% are women, which is slightly less than in the overall sample (20%). At the middle management level, the companies affiliated with the Swiss Confederation also lie behind the value of all surveyed companies, with a 16% share of women. Of the general workforce, 28% are women. Compared to 2021, the share of women has increased at the executive, middle management and general workforce levels.

7.4 Publicly Owned Companies

The cantons are also paying more and more attention to gender diversity, both in their own ranks as well as in associated companies. Therefore, we conduct a separate assessment of the share of women at these publicly owned companies. This sample consists of the federally-affiliated companies, the majority of the major utility companies and the larger cantonal banks, and other publicly controlled companies in the transport and financial sector. The sample covers a total of 23 companies.

At the publicly owned companies, 14% of executive board members are women, slightly less than in the overall sample. This reflects an increase of 2 percentage points over 2021. Among the senior managers at the publically owned companies, 14% are women (2021: 16%), which is fewer than in the survey’s overall sample (20%). In middle management, the share of women at the publicly owned companies is 25%. This is also less than in the overall sample, in which it is 27%.

7.5 Cantonal Banks in Comparison to other Banks

Cantonal banks are examined separately within the financial industry. A comparison with other banks allows us to determine the progress that cantonal banks are making on issues of gender diversity within the financial industry. The sample in this case consists of a total of 13 cantonal banks, the benchmark in terms of size being the 12 other participating financial institutions.

The general workforce of the cantonal banks surveyed consists of 49% women (2021: 46%). At the other banks, as in the overall sample, 35% of the employees are women (2021: 38%). At the cantonal banks, the share of women increased to 27% (2021: 25%) in middle management. At the other financial institutions, the share is 25% (2021: 16%), which is similar to the cantonal banks. The executive boards at the cantonal banks are 9% female, which is below the amount in the overall sample (14%) and at the other banks (20%).

8 Overview of the Companies Included in the Report

Companies	Private Sector	Gender-Diversity-Pipeline (sr2025)	Companies	Private Sector	Gender-Diversity-Pipeline (sr2025)
3A Composites AG			Jungfraubahnen Management AG
Aargauische Kantonalbank		•	Kardex AG
ABB Ltd.	•		Klingelnberg AG
ABB Schweiz AG	•		Komax AG
Accelleron Industries AG		•	Kühne + Nagel International AG	•	•
Addex Therapeutics Ltd.			Landis+Gyr AG	•
Adecco Management & Consulting SA	•		LEM International SA
Adval Tech Holding AG			Leonteq Securities AG
Aéroport International de Genève		•	Liebherr-International AG
AEVIS VICTORIA SA	•		Liechtensteinische Landesbank		•
Airesis SA			Lindt & Sprüngli (Schweiz) AG
Alcon Switzerland AG	•		LLB Schweiz AG		•
Allianz Suisse	•		Logitech International SA	•	•
Allreal Holding AG			Lonza Group AG	•
Alpiq AG		•	Luzerner Kantonalbank		•
ALSO Holding AG			Magazine zum Globus AG		•
Aluflexpack AG			Manor AG	•	•
AMAG Automobil- und Motoren AG		•	Marti Holding AG
Amstein + Walthert AG		•	McDonald's Suisse Holding SA	•	•
Angst & Pfister AG			MCH Group AG
APG SGA AG		•	Medartis AG
Appenzeller Kantonalbank		•	medmix Group AG
Arbonia AG	•		Meier Tobler AG		•
ARYZTA AG	•		Metall Zug AG
Ascom Holding AG		•	Mettler-Toledo Holding AG	•
Autoneum Holding AG	•		Meyer Burger AG
Avaloq Group AG			Migros-Genossenschafts-Bund	•	•
Avolta AG	•		Mikron Holding AG
AXA Versicherungen AG	•		Mobilezone AG		•
Axpo Holding AG	•		Mobimo Management AG		•
Bachem Holding AG			Montana Tech Components AG		•
Baloise Gruppe	•		Nestlé S.A.	•	•
Banca dello Stato del Cantone Ticino		•	Nidwaldner Kantonalbank		•
Bank Cler AG			Novartis AG	•
Bank J. Safra Sarasin AG			NZZ-Mediengruppe		•
Bank Julius Bär & Co. AG			Obwaldner Kantonalbank		•
Bank Lombard Odier & Co			OC Oerlikon Corporation AG	•	•
Bank Vontobel AG		•	Orascom Development Holding AG
Banque Cantonale de Fribourg			Orell Füssli Holding AG		•
Banque Cantonale de Genève			ORI­OR AG
Banque Cantonale du Jura		•	Partners Group Holding AG	•	•
Banque Cantonale du Valais		•	Phoenix Mecano AG	•	•
Banque Cantonale Neuchâteloise			Pictet Group SA	•
Banque Cantonale Vaudoise			Planzer Transport AG		•
Banque Pictet & Cie SA			PLAZZA AG
Barry Callebaut AG	•		PostFinance AG	•
Basellandschaftliche Kantonalbank		•	Privatgruppe Hirslanden	•
Basilea Pharmaceutica Ltd		•	PSP Swiss Property AG		•
Basler Kantonalbank		•	PwC Switzerland AG	•	•
Basler Verkehrs-Betriebe			Raiffeisen Schweiz	•	•
BDO AG			Rehau GmbH
Belimo Automation AG			Restaurant Bindella terra vite vita SA		•
Bell Food Group AG	•		Rhätische Bahn AG		•
Bellevue Group AG		•	Rieter Holding AG	•
Berner Kantonalbank AG		•	Ringier Holding AG	•	•
BKW AG	•	•	Rolex SA
BLS AG	•	•	Romande Energie Holding SA
BNP Paribas (Suisse) SA			RONAL AG
Bobst Group SA	•	•	RUAG International AG		•
Bossard Holding			RUAG MRO Holding AG	•
Bucher Industries AG	•	•	Saint-Gobain Weber AG
Bühler AG	•	•	Sandoz AG	•
Burckhardt Compression AG			Santhera Pharmaceuticals Holding AG
Burkhalter Holding AG	•	•	SAURER AG
BVZ Holding AG		•	SBB Cargo AG	•
Bystronic Group AG		•	Schaffhauser Kantonalbank		•
Calida Holding AG			Schaffner Holding AG
Cembra Money Bank AG		•	Schindler Holding AG	•
Chocoladefabriken Lindt & Sprüngli AG	•		Schlatter Holding AG		•
Cicor Management AG			Schweiter Technologies AG
Clariant AG	•		Schweizerische Bundesbahnen SBB	•	•
Coca-Cola HBC	•	•	Schweizerische Mobiliar Versicherungsgesellschaft AG	•	•
Coltène Holding AG			Schweizerische Nationalbank		•
Comet AG			Schwyzer Kantonalbank		•
Compagnie Financière Richemont SA	•		Securitas AG		•
CONCORDIA Schweizerische Kranken- und Unfallversicherung AG		•	Selecta AG
Coop Genossenschaft	•		Sensirion AG
CPH Chemie + Papier Holding AG			SFS Holding AG	•	•
CREALOGIX AG			SGS SA	•
CSL Vifor			Siegfried Holding AG
CSS Holding Ag	•	•	Siemens Schweiz AG	•
Dätwyler Holding AG	•	•	Siemens Schweiz AG, Smart Infrastructure	•
Deloitte AG			SIG Holding Ltd.	•	•
Denner AG	•	•	Sika AG	•
Die Schweizerische Post	•	•	SIX Group AG	•	•
Digitec Galaxus AG			SKAN AG		•
DKSH Holding AG	•	•	Sonova Holding AG	•
dormakaba International Holding AG	•	•	SR Technics Ltd.	•	•
Dosenbach-Ochsner AG			SRG SSR	•	•
Dottikon Exclusive Synthesis AG			St. Galler Kantonalbank		•
DSM-Firmenich AG	•		Stadler Rail AG	•
Edelweiss Air AG			Starrag Group Holding AG
Edisun Power Europe AG			Straumann Holding AG	•	•
EFG International AG			Sulzer AG	•	•
Eidgenössische Bundesverwaltung			Sunrise GmbH		•
Elca Informatik AG			Suva	•	•
Elektrizitätswerke des Kanton Zürich (EKZ)			SV Group AG	•	•
Elma Electronic AG		•	Swarovski AG
Emil Frey AG		•	SWICA Krankenversicherung AG		•
Emmi AG	•	•	Swiss Finance & Property Group AG		•
EMS-CHEMIE HOLDING AG	•		Swiss International Air Lines AG	•	•
Endress + Hauser AG	•		Swiss Life	•	•
EQUANS Switzerland	•	•	Swiss Life Schweiz	•
ERNE AG		•	Swiss Prime Site AG
ERNI Group Holding AG			Swiss Re Ltd	•	•
Ernst & Young AG			Swiss Steel Group	•
Evolva Holding AG			Swisscom AG	•	•
Feintool International Holding AG			Swissport International Ltd.	•
F. Hoffmann-La Roche AG	•	•	Swissquote Bank AG
fenaco	•	•	Syngenta AG	•
Flughafen Zürich AG		•	Tecan Group AG		•
Forbo International SA	•		Temenos Group AG		•
Franke Holding AG	•	•	Tetra Laval Group SA	•
Frutiger AG	•	•	The Swatch Group Ltd.	•
Galenica AG	•	•	Thurgauer Kantonalbank		•
GAM Investments AG			TITLIS Bergbahnen AG
gategroup AG	•		Triumph Holding AG
Geberit AG	•	•	TX Group AG	•	•
Generali (Schweiz) Holding AG			U-blox AG
Georg Fischer AG	•	•	UBS AG	•	•
Givaudan SA	•		UBS Switzerland AG	•
Glarner Kantonalbank			Urner Kantonalbank
Glas Trösch Holding AG	•		Valiant Bank AG		•
Glencore plc	•		Valora Holding AG	•
Graubündner Kantonalbank		•	VAT Group AG
Gurit Holding AG		•	Vaudoise Versicherungen
Helsana Versicherungen AG	•	•	Vebego Schweiz Holding AG	•
Helvetia Schweizerische Versicherungsgesellschaft AG	•	•	Vetropack Holding AG
HIAG Immobilien Holding AG		•	Villars Holding S.A.
Hirslanden AG			VISANA Services AG
HOCHDORF Holding AG		•	Von Roll Holding AG
Holcim Ltd	•		Vontobel Holding AG		•
HUBER+SUHNER AG	•	•	VP Bank AG		•
Hypothekarbank Lenzburg AG		•	VZ Gruppe AG
IBM Schweiz AG	•	•	V-ZUG Holding AG	•	•
Idorsia Pharmaceuticals Ltd			Warteck Invest AG		•
Implenia AG	•	•	Ypsomed Holding AG		•
Inficon Holding AG			Zehnder Group AG		•
Interroll Holding AG			ZFV-Unternehmungen	•	•
Intershop Holding AG			Zug Estates Holding AG		•
Investis Holding AG		•	Zuger Kantonalbank
ISS Holding AG	•	•	Zur Rose Suisse AG
IVF Hartmann AG		•	Zürcher Kantonalbank	•	•
Jet Aviation Management AG	•		Zurich Insurance Group	•
Julius Bär Gruppe AG	•		Zürich Versicherungs-Gesellschaft AG	•	•

9 Data basis

In the data basis, the series of figures since 2006 and 2010 are available for all samples. It also contains additional analyses on the education and age of committee members, languages spoken in the public sector, etc., which are not listed in the report.

Abbreviations

AG	Aktiengesellschaft (joint stock company)	Ltd.	Limited
CEO	Chief Executive Officer	NCC	Nomination and Compensation Committee
CFO	Chief Financial Officer	plc	Public Limited Company
EB	Executive Board	SB	Supervisory Board
EU	European Union	SME	Small and medium-sized enterprises
HR	Human Resources	SMI	Swiss Market Index
i.e.	id est	SPI	Swiss Performance Index

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