Today, November 14, the College of Commissioners adopted the proposed directive on the presence of women on company boards. Justice Commissioner Viviane Reding, who carried the proposal, had to give up the idea of introducing mandatory quotas per se. Indeed, the Member States will have to implement the necessary measures to drive their listed companies to achieve 40 percent of women among non-executive directors by 2020 - 2018 for listed public companies. However, the new proposal focuses on the transparency of selection procedures and introduces criteria for an objective comparative assessment of the qualifications of candidates. (Ref. 120668)
Compromise. In the end, the European Commission reached a compromise, asking the Member States to make sure that private listed companies in Europe attain the objective of 40 percent of women among non-executive directors (including employee representatives where appropriate) by 2020 – 2018 for listed public undertakings.
The proposal presented this Wednesday does not cover small and medium-sized enterprises – employing less than 250 persons and has an annual turnover not exceeding EUR 50...
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