Women are Still Far from Parity on Boards of Directors in Panama Yet they Hold 55% of Executive Positions
The presence of women in decision-making positions is growing, but gender gaps remain visible on boards of directors. Women’s leadership is gaining ground in Panama, although barriers to accessing board positions still exist.
Female leadership continues to gain ground in Panamanian companies, but still faces barriers to accessing top decision-making positions within the business sector. The low presence of women on boards of directors is relevant because these bodies are responsible for defining strategy and overseeing the highest level decisions within companies. Female leadership is steadily expanding across Panamanian companies, with women now holding a growing proportion of senior management and board roles. Panama’s business sector is actively adapting to higher regional representation of female executives, driven by targeted corporate initiatives and national policy shifts.
Key Drivers and Progress
- Rising Management Presence: Women currently hold nearly 40% of senior management positions in Latin America, with Panama reflecting these strong regional figures and outpacing global averages in executive representation.
- Gender Parity Initiatives (GPI): Launched in 2018, Panama’s public-private alliances aim to shrink economic gender gaps by actively increasing women in leadership, boosting workforce participation, and addressing wage gaps.
- State and Corporate Quotas: Panama has introduced measures to ensure better gender balance, including mandates requiring women to comprise a significant percentage of state boards of directors.
- High-Profile Appointments: Significant milestones in major state-backed and private entities—such as the historic appointment of Ilya Marotta as the first female head of the Panama Canal administration—have broken historical barriers.
Challenges and Outlook
Despite these positive strides, challenges remain. Panamanian women still face certain structural barriers in upper leadership and a measurable gender wage gap estimated at around 11.5%. Nevertheless, industries spanning finance, logistics, and technology are heavily investing in mentorship and training programs to build inclusive talent pipelines.
