The 2026 Germany Spencer Stuart Board Index analyses supervisory boards trends across the DAX 40, the largest companies in the DAX by market value. Its purpose is to provide a substantial review of governance practices and important trends and developments in in these largest and publicly traded German companies according to market value.
Here are a few highlights from this year’s index.
Key points
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DAX40 supervisory board refreshment has slowed sharply. Newly elected members fell from 107 in 2024 to 16 in 2026, while average tenure rose from 5.4 to 6.2 years.
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Technology and AI expertise remains limited, with only around 6% of members having technology-sector experience and just 17 DAX40 companies maintaining committees focused on areas such as technology, innovation, AI, or digitalisation.
- International representation among newly elected supervisory board members has declined from 19% in 2024 to 6%, despite growing demand for global and geopolitical expertise.
- Gender diversity remains largely unchanged: women account for 39% of supervisory board members, and only four of 40 chair roles are held by women.
Lars Gollenia, Head of the Board and CEO Practice at Spencer Stuart in Germany and Austria, commented: “German companies have incredibly experienced supervisory board members. At the same time, they need more fresh perspectives, technological know-how, and international experience to guide the major transformations of the coming years. Supervisory boards should focus more on future relevance, technology, and geopolitical resilience — otherwise, they risk falling behind the demands of the next waves of transformation.”