CNMV report shows rising pay for Ibex 35 directors

According to the latest corporate governance report from the National Securities Market Commission (CNMV), the average remuneration for directors in Spanish listed companies rose by 12.2% to 477,000 euros per year.

The report highlights a widening pay gap, with the ratio of director pay to average employee salary increasing by 21.8% to reach 67 times the average employee's earnings. Executive directors received an average of 2.4 million euros, while non-executive directors earned an average of 173,000 euros.

Regarding gender representation, women hold 37.4% of board positions in listed companies and 42.1% in the Ibex 35. However, their presence decreases significantly in executive roles, where they represent only 10.3% of executive directors.

The average cost of a board of directors rose by 26.4% to 5.4 million euros, though the CNMV noted this figure was skewed by a single 78 million euro extraordinary payment. Excluding that payment, the annual increase was 10.3%.