NEWS AND INSIGHTS UPDATE:
A European Union (EU) proposal could require that corporate boards include 40% women by 2020.The draft law is expected to be published in October and includes sanctions for companies that don’t comply, including fines, exclusion from government tenders, and a ban on public subsidies.
Aoife White explains on Bloomberg Businessweek:
“Some 13.7 percent of board seats in the EU belong to women after a 1.9 percentage point increase between October 2010 and January 2012, the European Commission said in a report in March.
“The EU draft law to redress the gender imbalance would apply to all listed companies with more than 250 employees and annual sales of more than 50 million euros ($63 million), [according to an anonymous source close to the plan]. State-owned companies would be required to introduce the quotas by 2018 to set an example for other firms.”