Methodology and glossary
Board: This is the body charged with overseeing the actions of the firm’s executive management in the interests of the owners of the company. In the case of private companies, this includes independent representatives appointed directly by shareholders. In the case of state-owned companies, this may include political appointees. In some countries, the board is termed the Supervisory Board (as distinct from the Management Board) and includes employee representatives.
Board executive: The person (or people) responsible for the day-to-day management of the organization who has a seat on the board, typically the CEO.
BU - Business units: This refers to how the company is organized below the level of the senior management team and the board. For the purposes of this research, we looked at people heading the business units involved in the following activities: generation, transmission and distribution, retail, trading and customer. Please note that this is not an exhaustive list of business units within a company. Where companies have more business units than those listed we have only sourced those falling broadly into the above categories.
Non-executive director (also called external director, independent director or outside director): is a member of a company’s board of directors who is not part of the executive team. A non-executive director typically does not engage in the day-to-day management of the organization, but is involved in policy making and planning exercises.
SMT - Senior management team: The executive management of the company including the CEO and CFO or equivalent roles (such as Executive Director, Managing Director). Typically this group will comprise 5 to 10 individuals with ultimate responsibility for the day-to-day running of the company. In some countries, such as Germany, this group is formally constituted into a Management Board.
If women were members of both the SMT and the board, they were included as board members but not included in the SMT group for percentage purposes, to avoid double counting.