Women doing great things is a tale as old as time.
In the 21st century, that manifests in various ways, including in the sprawling corporations they are at the helm of.
From Daimler Truck Holdings’ Karin Rådström to Chanel’s Leena Nair, it’s hard to find an industry—or any slice of corporate Europe—that women haven’t made waves in.
Veolia’s Estele Brachlianoff joined the $49 billion French utility company 20 years ago in various capacities before becoming CEO nearly three years ago. Branchlianoff presided over the Seine River’s clean-up ahead of the Paris Olympics last year.
British pharma giant GSK’s Emma Walmsley navigated setbacks during the COVID-19 pandemic and looming activist investors, among other things, to create new growth engines in cancer treatments and other specialty medicines.
International Women’s Day is a chance to reflect on these leaders’ successes and the challenges they face. This year, Fortune curated a list of female leaders at the helm of European companies across the continent’s biggest industries. To spotlight current and up-and-coming leaders, we drew upon our flagship rankings: Fortune 500 Europe and Most Powerful Women, as well as our recently debuted Fortune Tech Leaders: Europe’s Most Influential Women list.
International Women’s Day is a chance to reflect on these leaders’ successes and the challenges they face.
While the women we highlight are pioneering in their respective fields, they also face challenges threatening to eclipse their wins. In 2024’s Fortune 500 Europe list, which ranks the continent’s biggest companies by revenue, the number of women running companies slid from 7% the previous year to 6.2%. Profits among women-led companies also declined compared to an increase among companies led by men. Although this disparity wasn’t statistically significant, according to Fortune’s data analysis team, it points to a possible glass cliff scenario in the making.
Women with board roles are far higher in European companies than in the U.S., but they fall short of the U.S. when it comes to directorial or CEO roles, according to STOXX Europe 600 data cited by Goldman Sachs in a 2024 report. Still, there’s been an uptick in women CEOs in the last 15 years in the U.S. as well as Europe.
Women with board roles are far higher in European companies than in the U.S., but they fall short of the U.S. when it comes to directorial or CEO roles.
This increase in women reaching leadership positions is especially significant now, just as a slew of companies dismantle their diversity, equity, and inclusion (DEI) policies, primarily in the U.S. under political pressure, sending ripple effects elsewhere.
It’s nonetheless remarkable that the women CEOs who lead Europe’s largest companies run the gamut, affirming that there truly is no limit to their achievements as business leaders.
Karin Radstrom, CEO of Mercedes Benz Truck poses for a photo in front of an “eActros 600” battery-electric long-haul truck during its presention in Egestorf, south of Hamburg on October 10, 2023. (Photo by Daniel Bockwoldt / AFP) (Photo by DANIEL BOCKWOLDT/AFP via Getty Images)
Rådström has been the CEO of Daimler Truck Holdings since 2024 following the departure of Martin Daum. She is the company’s first female CEO. Daimler Truck Holding ranks #55 on Fortune 500 Europe 2024.
Estelle Brachlianoff, chief executive officer of Veolia Environnement SA, following a Bloomberg Television interview in London, UK, on Wednesday, Sept. 4, 2024. Brachlianoff talked about how waste management has become fashionable as the effects of climate change become more extreme, and why she believes there’s a solution to every environmental challenge. Photographer: Jose Sarmento Matos/Bloomberg via Getty Images
Branchlianoff became CEO of Veolia in 2022 after previously serving as the COO and leading operations in the U.K. and Ireland. She ranks #83 on Fortune’sMost Powerful Women 2024 list.
Christel Heydemann, chief executive officer of Orange SA, following a Bloomberg Television interview in London, UK, on Friday, Feb. 14, 2025. “We are benefiting from customers migrating from copper to fiber”, Heydemann said. Photographer: Betty Laura Zapata/Bloomberg via Getty Images
Heydemann became CEO of the French telecommunications company Orange in 2022. She also sits on the company’s board of directors. She ranks #41 on Fortune’sMost Powerful Women 2024 list.
Ferrand became CEO of France-based Crédit Mutuel Group in May of 2023, and is one of few women to lead a major European bank. She ranks #84 on Fortune’s Most Powerful Women 2024 list.
Anne Rigail, chief executive officer of Air France SA, during an event to mark the 90th birthday of Air France at Des Galeries Lafayette SA department store in central Paris, France, on Wednesday, Sept. 27, 2023. Air France-KLM group announced the purchase of 50 Airbus SE A350 widebody aircraft according to a statement late on Monday. Photographer: Nathan Laine/Bloomberg via Getty Images
Rigail joined Air Inter (which later merged with her current employer, Air France) in 1991 as a fresh-faced college graduate. Nearly 30 years later, Air France named her as CEO, making Rigail the first female chief executive in the company’s history. She ranks #48 on Fortune’s Most Powerful Women 2024 list.
Leena Nair, chief executive officer of Chanel Ltd., following a Bloomberg Television interview in London, UK, on Monday, April 15, 2024. “We use exquisite raw materials and our production is very rigorous, laborious, handmade so we raise our prices according to the inflation that we see,” Nair said. Photographer: Jason Alden/Bloomberg via Getty Images
Nair stepped in as CEO of French luxury house Chanel in January 2022 after working as the chief human resources officer for Unilever for nearly six years. She ranks #68 on Fortune’sMost Powerful Women 2024 list.
MacKay has been the CEO of commercial real estate company Cushman and Wakefield since July 2023. The New York-listed, London-registered company is ranked #380 on Fortune 500 Europe 2024.
Emma Walmsley, chief executive officer of GSK Plc, following a Bloomberg Television interview in London, UK, on Tuesday, July 16, 2024. The threat of superbugs is not sufficiently understood, Walmsley said. Photographer: Jason Alden/Bloomberg via Getty Images
Walmsley is around eight years into her effort to return the British pharma company to growth, and her work is starting to pay off. Much credit goes to Arexvy, GSK’s first-on-the-market RSV vaccine, which was a triumph for GSK after the company failed to develop a COVID jab. She ranks #5 on Fortune’sMost Powerful Women 2024 list.
Jönsson was appointed CEO of ICA Gruppen in 2022. She has over 20 years of experience in the retail and food industries and was previously CEO of retailer, Plantagen. ICA Gruppen is ranked #294 on Fortune 500 Europe 2024 list.
Crew was appointed as CEO of Diageo in June 2023 after stints as the COO and president of Diageo North America and global supply. She is one of 10 women who are the CEOs of FTSE100 companies and ranks #65 on Fortune’sMost Powerful Women 2024 list.
05 April 2023, North Rhine-Westphalia, Bonn: Claudia Nemat, member of the Board of Management, sits on the podium before the shareholders’ meeting. Deutsche Telekom shareholders have gathered for the shareholders’ meeting. Photo: Oliver Berg/dpa (Photo by Oliver Berg/picture alliance via Getty Images)
Nemat has been a member of Deutsche Telekom’s management board since 2011. Until the end of 2016 she led the European business and since 2017 has overseen the board area of technology and innovation. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women 2024 list.
Breda’s work emphasizes sustainable living and advancing Electrolux’s ambitious “For the Better 2030” goals, including substantial reductions in greenhouse gas emissions and energy-efficient manufacturing. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women 2024 list.
With a career spanning over two decades at leading companies including Philips and Nokia, Soritsch-Renier has driven the company’s digital transformation into a global leader in sustainable construction. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women 2024 list.
TORONTO, ON – May 11: Amanda Blanc, CEO of insurance company Aviva, poses for a photo at the Aviva Canada office at First Canadian Place in Toronto. Toronto Star/Lance McMillan May-11-2023 (Lance McMillan/Toronto Star via Getty Images)
Welsh-born Blanc took the top job at British insurance company Aviva in 2020 after leadership stints at Zurich Insurance Group, AXA, and Towergate Insurance. She is Aviva’s first female CEO and ranks #36 on Fortune’sMost Powerful Women 2024 list.
Barbara Lavernos, deputy chief executive officer of L’Oreal SA, during the 2024 CES event in Las Vegas, Nevada, US, on Tuesday, Jan. 9, 2024. The event typically doubles as a preview of how tech giants and startups will market their wares in the coming year and if early announcements are any indication, AI-branded products will become the new “smart” gadgets of 2024. Photographer: David Paul Morris/Bloomberg via Getty Images
Over Lavernos’s 30-year career with L’Oréal, she has spearheaded transformative innovations, including integrating AI and green sciences to revolutionize beauty products and experiences. She is featured on Fortune Tech Leaders: Europe’s Most Influential Women list.
Women CEOs who lead Europe’s largest companies run the gamut, affirming that there truly is no limit to their achievements as business leaders.
