30% Club Mexico and Mercer México have teamed up to analyse the boardroom dynamics playing out across the country and reveal what they mean for diversity among directors.
Their latest joint study, The New Chair, offers a rare glimpse into the internal workings of more than 200 corporate boards across Mexico. Drawing from in-depth interviews with directors and survey responses from a gender-balanced group, the research uncovers the hidden mechanisms that govern how board members are appointed, how they perform, and how inclusive practices are – or aren’t – being embedded into the boardroom.
Access: The Invisible Gatekeepers
Getting a seat at the board table remains largely a matter of trust, reputation and relationships. While professional experience and academic qualifications play a role, the path to board membership in Mexico is still paved by personal recommendations and long-standing networks. Many directors, especially independents, report that entry often comes through informal channels, with a strong reliance on insiders to open doors.
This can unintentionally disadvantage women and other underrepresented groups who aren’t part of traditional business circles. Indeed, 30% of survey participants agreed that women face gender-related barriers when trying to access board positions – and this perception is even stronger among female directors themselves.
Diversity: Incremental Shifts, Persistent Challenges
The concept of the “second woman” on a board was repeatedly cited as a powerful catalyst for change. While being the only woman can feel isolating or tokenistic, having a second female director fosters mutual support and encourages a broader range of perspectives to be heard. Still, meaningful progress is uneven. Only a minority of boards surveyed are actively pursuing strategies to build more diverse, equitable and inclusive governance teams.
Interestingly, gender is only one lens through which diversity is explored. Participants underscored the value of different life experiences, skill sets and professional backgrounds. Directors with expertise in cybersecurity and sustainability, for instance, are in growing demand as boards respond to external risks and new strategic imperatives.
Performance: Value Beyond Visibility
Once on the board, directors are expected to add tangible value – not just presence. The most respected members are those who can challenge assumptions, ask incisive questions, and help the board navigate complex decisions without overstepping into operational matters. The unwritten rule? “Nose in, hands out.”
However, only 42% of boards currently have a formal evaluation process for assessing individual performance. Those that do often rely on informal feedback or 360-degree reviews, rather than robust frameworks. This lack of structure can make it difficult to track contribution, align expectations, or enforce term limits.
Induction processes are also inconsistent. Some new directors receive little more than a board pack and a warm welcome. Others benefit from thorough onboarding programmes and even mentorship schemes that help them understand internal dynamics and navigate unspoken rules.
Governance Gaps and Opportunities
The report stresses the need for more professionalised governance practices. Topics like remuneration, term limits, and succession planning are still rarely addressed systematically. Yet, these very structures are critical to attracting and retaining top board talent – particularly independent directors who must juggle multiple responsibilities.
As Mexico’s corporate landscape evolves under pressure from international regulation, investor scrutiny and rapid technological change, the composition and capability of boards will become even more important. Directors are increasingly expected to be forward-looking strategists who can help companies adapt to risks ranging from geopolitical unrest to AI disruption and climate volatility.
A Call to Action
The message from The New Chair is clear: more inclusive, professional and future-ready boards aren’t just desirable – they are essential. For aspiring board members, especially women, the report offers practical guidance: build your network, seek mentorship, invest in both technical and emotional intelligence, and look for experience on nonprofit boards as a stepping stone.
For companies, it’s a wake-up call to review how directors are selected, onboarded and evaluated. Diversity shouldn’t be reduced to box-ticking. It must be embedded into the very fabric of board dynamics – enriching the conversation, enhancing resilience and ultimately, improving governance outcomes.
In a world of growing complexity, the boards that will thrive are those that reflect it.
Read the full report in Spanish here.
