Press Release: DAX Executive Board Report 2026

Frankfurt am Main, June 15, 2026

Executive Board Work in Times of Crisis: More Turnover, More Diversity, and More External Appointments on DAX 40 Executive Boards

• Odgers publishes its 13th DAX Executive Board Report, analyzing the profiles of 252 executive board members across the DAX 40 companies.
• Personnel dynamics are increasing: 39 executive board members departed and 36 new members were appointed, while CEO and CFO tenures continue to shorten.
• Executive boards are becoming more diverse: the proportion of women reaches a new record high of 27%, while international representation rises to 37%.
• External appointments gain importance: only 43% of DAX executive board members have built their careers within their current company.

In times of overlapping crises and growing uncertainty, do executive boards need more stability and continuity—or less? Which leadership profiles become more important under uncertain conditions? And how are roles and decision-making processes evolving? These and other questions are explored in the 13th edition of the DAX Executive Board Report by Odgers. For this study, the integrated executive search and leadership advisory firm analyzed the profiles of 252 executive board members from Germany’s 40 largest publicly listed companies.

The Odgers DAX Executive Board Report 2026 reveals a significant increase in turnover among DAX executive boards. During the period under review (March 31, 2025, to March 31, 2026), 39 board members left their positions—ten more than in the previous year. Nearly half of these departures (18) were unplanned. At the same time, tenures in key leadership roles continue to shorten. CEOs now remain in office for an average of 5.3 years, compared with 5.6 years in the previous year. The trend is even more pronounced among CFOs, whose average tenure has declined to just under four years (3.9 years), down from 4.6 years in 2025.

The pace of succession planning is also increasing. External candidates continue to gain importance, with only 43% of current executive board members having built their careers within their own company. In 2019, this figure stood at 58%.

The report further shows that executive boards are increasingly focusing on their operational responsibilities within their own organizations. The number of supervisory board mandates held per executive board member has fallen to a historic low. While DAX executive board members held an average of 2.8 supervisory board positions in 2015, they now hold just one on average.

“DAX companies are responding to a prolonged state of crisis with greater personnel mobility, shorter tenures, and more external perspectives,” explains Emanuel Pfister, Managing Partner at Odgers. “At the same time, experience, industry expertise, and mutual trust remain key anchors of stability. In the years ahead, the success of executive board work will depend less on whether a board is highly experienced or has served together for a long time, and more on whether the leadership team can remain effective and decisive under conditions of uncertainty.”

Despite increasing personnel dynamics, traditional selection criteria such as seniority and professional expertise remain critical when filling executive board positions. The average age of DAX executive board members remains unchanged at 54.6 years. Industry experience also continues to play a major role: 75% of all DAX board members come from the industry in which they currently work.

By contrast, the importance of holding a doctoral degree continues to decline. Only 28% of DAX executive board members now hold a PhD. Meanwhile, the proportion of board members with an MBA has continued to increase, reaching 24%.

At the same time, diversity is gaining importance within DAX executive boards. The proportion of women has risen to a new record high of 27%. Of the 36 newly appointed executive board members, seven are women. Nevertheless, the top leadership positions of DAX companies remain predominantly male. As of the reporting date, only four women served as CEOs of DAX-listed companies. To date, only four companies have achieved gender parity on their executive boards.

In parallel, the internationalization of DAX executive boards is increasing once again. The proportion of non-German board members has risen to 37%. In contrast, executives with East German backgrounds remain significantly underrepresented.

The report is complemented by an interview with Wilfried von Rath, Chief Human Resources Officer and Labour Director of thyssenkrupp AG. His assessment: executive board work is increasingly evolving away from hierarchical decision-making authority toward a model based on shared orientation, alignment, and integration.

The new Odgers DAX Executive Board Report 2026 is available for download here: DAX Executive Board Report 2026

About Odgers

Founded in 1965, Odgers provides executive search and leadership advisory services across 33 countries through a network of 58 offices worldwide. Over the past 60 years, we have developed deep functional and industry expertise and built a global network of trusted relationships. Our strong local presence, combined with our global perspective and reach, enables us to support clients across six continents with both comprehensive and market-specific solutions.

In Germany, Odgers is partner-led and currently employs approximately 100 professionals in Frankfurt and Munich. Since opening its first German office in 1971, Odgers has provided tailored solutions for organizations across all industries—from multinational corporations to family-owned businesses and hidden champions.

For more information, visit: odgers.com/en-de/

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