Hire Female Executives in Italy

Italy Met the Board Quota — Now the Leadership Gap Is the Challenge

Italy runs one of the strictest board gender quota regimes in Europe: two-fifths (40%) of the less-represented sex on the boards and statutory auditor bodies of listed companies, enforced by fines of up to €1 million and, ultimately, forfeiture of the entire board. The quota has worked at board level — but at the very top, the numbers are moving backwards.

At Female Executive Search, we help businesses in Italy go beyond mechanical quota compliance with genuinely qualified female executives — leaders who strengthen your business, not just your ratios. Whether you need a board director for your next renewal, a statutory auditor, or a C-level appointment, our tailored search process connects you with vetted female executives across all major industries.

Explore the profiles of top female executives below, or read on to understand exactly what Italian law requires of your company.

Recruit Female Executives in Italy

Italy's gender quota laws: what applies to your company

The Golfo-Mosca law: from one-fifth to two-fifths

Italy's Legge Golfo-Mosca (law n. 120/2011) introduced board gender quotas for listed companies in 2011, starting at one-fifth of board members and rising to one-third. The 2020 Budget Law (law n. 160/2019) raised the requirement to two-fifths — 40% — of the less-represented sex and extended the regime for six consecutive board terms. The quota applies from each renewal of the corporate bodies, which makes every board election a compliance event. For newly listed companies, a one-fifth threshold applies to the first renewal after listing.

Boards and statutory auditors alike

Unusually in Europe, the Italian quota covers not only the board of directors (consiglio di amministrazione) but also the board of statutory auditors (collegio sindacale) of listed companies — both bodies must meet the two-fifths threshold. In addition, law n. 162/2021 extended the two-fifths rule to non-listed companies controlled by public administrations, building on the earlier rules for state-controlled companies (DPR 251/2012).

Sanctions with an endpoint: losing the board

Enforcement is entrusted to CONSOB, Italy's markets regulator, through an escalating chain: a non-compliant company is first formally warned and given four months to restore a compliant composition; continued non-compliance triggers an administrative fine of €100,000 to €1 million for the board (€20,000 to €200,000 for the statutory auditors) and a further three-month deadline; if the company still fails to comply, the entire body forfeits office (decadenza). No other EU quota regime ends in the loss of the whole board.

The EU Women on Boards Directive

Directive (EU) 2022/2381 set EU-wide targets of 40% of the underrepresented sex among non-executive directors, or 33% across all directors, by 30 June 2026. Italy was a precursor: the Golfo-Mosca regime already meets the directive's objectives, so Italian listed companies compliant with national law are aligned with the European framework — including its emphasis on transparent, merit-based selection of board candidates.

Quota met — leadership still out of reach

According to CONSOB's 2025 corporate governance report, women hold 43.8% of positions on the boards of Italian listed companies, comfortably above the legal floor, and in roughly one company in five women are equally or better represented than men. But at the very top the trend has reversed: female board chairs fell from 24 to 21 and female CEOs from 18 to 17 among the 185 companies listed in Milan. Quota compliance has not translated into executive power — and with the two-fifths rule applying at every one of six consecutive renewals, demand for genuinely qualified female directors, statutory auditors and executives is recurring, not one-off. That is precisely where specialised search makes the difference.

How Female Executive Search helps you comply — and compete

Female Executive Search (FES), part of the CEO Worldwide group founded in 2001, specialises in identifying outstanding female leaders for board, C-level and executive committee roles. For searches in Italy we draw on a global pool of over 28,000 vetted executives across 183 countries, including Italian and Italian-speaking women leaders with board, audit and P&L experience.

Our process is built for the timelines board renewals impose:

Recruit Female Executives in Italy

Frequently asked questions

What are the gender quota requirements for companies in Italy?

Listed companies must reserve at least two-fifths (40%) of the seats on both the board of directors and the board of statutory auditors for the less-represented sex, under the Golfo-Mosca law as reinforced by the 2020 Budget Law. The requirement applies for six consecutive terms, from each renewal of the corporate bodies. Companies controlled by public administrations are covered by parallel rules.

What happens if an Italian company misses the quota?

CONSOB first issues a formal warning with four months to restore a compliant composition. Continued non-compliance triggers a fine of €100,000 to €1 million for the board (€20,000 to €200,000 for the statutory auditors) and a further three-month deadline. If the company still does not comply, the entire body forfeits office.

Does the quota apply at every board renewal?

Yes. The two-fifths requirement applies from each renewal of the board and statutory auditors, for six consecutive terms. Since Italian corporate bodies typically serve three-year terms, quota compliance is a recurring obligation that must be planned into every election cycle, including list preparation and succession planning.

Has the quota worked in Italy?

At board level, yes: women held 43.8% of board positions in Italian listed companies in 2025 according to CONSOB, up from under 7% before the law. But female representation in top executive roles is declining — female chairs fell from 24 to 21 and female CEOs from 18 to 17 in 2025 — showing that board quotas alone have not opened the executive suite.

How quickly can FES present female board and executive candidates in Italy?

We deliver a shortlist of vetted, interested candidates within 7 to 10 days of engagement, drawing on more than 28,000 pre-vetted executives worldwide, including Italian and Italian-speaking female leaders with board and audit experience.

How is the FES fee structured?

Our fee is 25% of the gross annual salary of the position, paid in three milestone-based instalments: one third at engagement signing, one third at shortlist delivery, and one third when the candidate starts. Every placement carries a 6-month replacement guarantee.

Does FES only present female candidates?

FES specialises in identifying and assessing qualified female executives, giving clients access to senior female talent that traditional search often overlooks. All candidates are put forward on the strength of their competence and fit for the role — consistent with the merit-based selection principles of Italian and EU law.

Legal references: legge n. 120/2011 (Golfo-Mosca), legge n. 160/2019 (2020 Budget Law), legge n. 162/2021, DPR 251/2012; Directive (EU) 2022/2381. Statistics: CONSOB Report on Corporate Governance of Italian Listed Companies, 2025 edition. Information current as of July 2026; this page is general information, not legal advice.