EU May Set Quota for Women Directors

Proposal reportedly requires that companies appoint women to 40% of seats by 2020.

European companies may be required to appoint women to 40 percent of seats on supervisory boards by 2020 under a European Union proposal to be published next month, according to a person familiar with the plan.

Companies would face sanctions including fines, exclusion from government tenders and a ban on public subsidies, if they fail to comply, said the person who asked not to be identified because the plan isn’t yet public. The sanctions, which would also allow authorities to revoke other board appointments, would be set by national governments.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.