Men still dominating Malta’s boardrooms

Malta’s boardrooms remain heavily male-dominated, and most companies continue to be run by just one director, according to the Malta Business Registry Annual Report 2024.

The report offers a detailed snapshot of the local corporate sector, and while some trends were to be expected, others might raise a few eyebrows.

The gender imbalance across Malta’s corporate landscape remains striking. When it comes to shareholders, 75.7 per cent are male, with women accounting for just 24.3 per cent of the total. Among non-Maltese shareholders, the gap widens even further, with men comprising 81.3 per cent.

Directorship positions tell a similar story. Just 18.6 per cent of all directors are female. Maltese women represent only 20.5 per cent of directors, and among non-Maltese directors, the figure drops to 15.1 per cent.

One-person companies dominate the scene

A remarkable 65 per cent of companies registered in Malta are operated by just one director, reflecting the prevalence of micro and small businesses. The same proportion – 65 per cent – applies to companies with only one shareholder.

Entities with two directors make up 24 per cent of the total, with three or more directors being far less common.

The data also highlights an interesting age trend: Older companies tend to have older shareholders and directors.

The median age of shareholders tends to be higher in long-established companies, reaching as high as 65 for those incorporated before 1980. This decreases progressively among newer companies, dipping to 46 for companies incorporated since 2020.

A similar pattern is seen among directors, with a median age of 63 in older companies and 47 in newer ones.

Perhaps the most unexpected figure of all is that Malta’s oldest director is 96 years old.

On the shareholders’ side, the oldest is also 95 years old, while the youngest shareholder recorded is just 14 years old.

Thomas Cremona, whose firm specialises in assisting entrepreneurs with exit planning, joint ventures, and fundraising, remarked on LinkedIn that one of his favourite takeaways from the report was the striking profile of directors in Malta, highlighting the dominance of male directors, the prevalence of single-director companies, and, most notably, the presence of a 96-year-old still actively signing off financial statements.

What does this say about Malta’s business environment?

While the dominance of male directors and single-director companies is unsurprising, the data suggests that succession planning may not be top of mind for many companies, especially those with ageing leadership.

Moreover, the continued rise of younger shareholders in newer companies could point towards a gradual generational shift – though women still remain significantly under-represented in both ownership and leadership.