Share of Women on Boards of Borsa İstanbul-Listed Companies Rises to 19.4%

The "2025 Women in Board of Directors Turkey Report" published by Sabancı University Corporate Governance Forum revealed limited but measurable increases in female representation at Borsa İstanbul companies. According to the report, the percentage of women on the boards of BIST companies rose from 18.7% to 19.4% in 2025.

The number of companies with female board chairs increased from 50 to 57, while the number of female CEOs serving on boards rose from 25 to 31. However, 177 companies across all BIST companies and 31 companies within BIST 100 continue to be managed by boards composed entirely of men.

The data were shared with the public at the 12th Women Directors Conference organized by the 30% Club Turkey. The conference was hosted by The Marmara Group, a member of the club, and sponsored by Enerjisa Enerji at The Marmara Taksim. This year's event theme was "Resilience and the Changing Role of Boards in a Multiple Crisis Environment."

177 companies have no female members
Ata Can Bertay, Director of CGFT, presenting the report at the conference, emphasized that female representation has reached its historically highest level, but that progress remains fragile.

While the number of companies meeting the minimum 25% female board member ratio recommended by the Capital Markets Board increased from 183 to 191, this figure corresponds to only 32.6% of all companies. Female representation at 394 BIST companies remains below the 25% threshold.

According to projections in the report, 177 new female board members are needed for all BIST companies to have at least one female board member, and 433 new members would be required if a 25% quota were to be applied.

Bertay stated that the goal should be to achieve critical mass that increases decision quality, rather than merely symbolic representation.

"Female representation is a strategic necessity"
Melsa Ararat, Chair of the Club's Board of Directors, noted that in a multiple crisis environment, companies need governance structures that are more inclusive and incorporate diverse perspectives. She said women bring fresh perspectives and an untapped talent pool to boards.

Ebru Taşçıoğlu, speaking on behalf of Enerjisa Enerji, stated that female representation is no longer a choice but a strategic imperative for institutions in terms of long-term value creation.

Boards' expanding role discussed
In panels held during the conference, emphasis was placed on boards moving beyond their role as oversight bodies to become centers that determine risk appetite and set strategic direction in an age of uncertainty.

Panel participants included Dilek Bil, Gözde Yalazı Özbek, Güven Özyurt and Melis Ekmen Tabojer.

Awards for companies supporting gender equality
The conference also presented "Boards Empowered by Women" awards. Based on 2025 data, the following companies were recognized:

-Türkiye İş Bankası Grubu

-QNB Bank

-Enerjisa Enerji

-Aksa Enerji

-Durukan Şekerleme