The percentage of women on the boards of companies that are listed on the stock market has increased. According to data from the European Commission, this percentage rose from 13,7% in January 2012 to a current value of 15,8%. A variation that occurred in all European Union countries, with the exception of Bulgaria, Poland and Ireland.
This increase follows the proposal on the presence of women on company boards, which the European Commission adopted on 14 November 2012 with the aim of reaching a figure of 40% of women on those boards based on merit.
“Finally, companies have begun to understand that if they want to remain competitive in an increasingly aging society, they cannot ignore women's talent: 60% of graduates are women,” said Vice President Viviane Reding, Justice Commissioner of HUH.
The biggest increase in percentage points was recorded in Italy. France became the first EU country to have more than one woman at the top of the main listed companies.
Bulgaria is the only country with a notable decrease (down 4 percentage points), while the percentage of women on boards in Poland and Ireland remains unchanged (12% and 9%) respectively.
The new European legislation, which does not apply to small and medium-sized companies, but only to those listed on the stock exchange, provides that if a European company does not have 40% women in its supervisory body, it must introduce a new selection process of the members of the administration. This selection should give priority to applications from qualified women.
According to the legislation, EU Member States will have to establish adequate and dissuasive sanctions for companies that violate the directive.
To enter into force, the Commission's proposal for a directive must now be adopted by the European Parliament and the EU Member States meeting within the Council.
Issues
Women are still not represented at the top of a quarter of the biggest companies in the EU.
Comments