November Edition 2020

9 On average, women made up over 20% of board members, but Israel scored under the global average, with around 16% of board members being female. “State-owned companies must have at least 50% female representation on their board, but public companies can get away with just one token female board member,” Krongrad adds. The requirement to have 50% representation does not seem to havemade any significant impact.Of course, the discrepancy in representation on board seats has a snowball effect – affecting everything the company does and the manner in which it operates – and quite surprisingly given the increasing number of reports demonstrating that diversity increases profits." “According to official data published, women employed on personal contracts in senior management positions in government companies earn up to 50% less than men in identical positions, ” Krongrad adds. “Inequality is also reflected in the number of women in the position of CEO, only 3 of the 73 CEOs in government companies are women. “While women are underrepresented in some industries, you can see women leading high-tech companies and as GCs. They are also in the industrial area, like myself. I feel it’s less of an industry issue. What is important is that there needs to be a supportive environment where women have a chance to do well, be promoted, become senior GCs. Not all get the chance to become part of senior management as I am here,” says Arlosoroff at ADAMA. "This is a very important development, as we don’t see enough women leaders in Israeli public service or private sectors. The path to a better society must go through social equality. This proposed initiative, may assist women in reaching social equality in public services position, which would, hopefully, enhance the same tendency within the private sector, in the aim to create a more equal society to all minorities, not just women” says Noa Rosenberg-Segalovitz, General Counsel at Tnuva.