European companies may be soon be looking for hundreds of female directors to fill quotas, prompting American executives to send their resumes across the Atlantic.
At least ten European countries, including Norway, France and Spain, have approved quotas or corporate-governance codes for women representation on boards, or are considering them. That may require more than 1,000 new female directors in the next three to five years, based on a 2010 report covering 334 companies in 17 countries by executive recruiting firm Russell Reynolds Associates.
U.S. women executives said they are eager to take their experience overseas, where they face challenges including the language barrier and resistance to outsiders. Doreen Wright, who retired as Campbell Soup Co. chief information officer in 2008, is part of a growing number of Baby Boomers transitioning from full-time executives to professional directors. They are willing to take on additional work, she said.
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