FRANKFURT, Jan 17 Reuters The number of women at the helm of Germany39;s top companies is shrinking, according to a study on Wednesday that deals a blow to the government39;s aim for greater gender equality.

Female chief executive officers at Germany39;s 200 largest firms by revenue numbered nine in late 2023, down from 10 in 2022 and 14 in 2021, according to the study by the DIW economic institute.

The CEO role is unfortunately still a bastion for men, wrote Virginia Sondergeld, one of the report39;s authors.

The decline in top positions at the nonfinancial companies surveyed contrasts with a rise in female management board representation, which was 17.5 in 2023 compared with 15.6 in 2022.

The study found 44 of firms have no women on their management boards, 40 a single woman and only 16 two or more.

The bottom line is that women are still clearly underrepresented, the authors wrote.

DIW, one of Germany39;s most important economic research institutes, has been tracking developments since 2006.

When German Chancellor Olaf Scholz formed a new coalition government in 2021, the threeparty alliance agreed that equality of men and women must be reached in this decade and vowed to tackle the country39;s gender pay gap, one of the highest in Europe.

Reporting by Tom Sims, Editing by Miranda Murray and Christina Fincher

Source Reuters