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By will or by force, women are entering boards

March 31, 2015

wob

The German attempt to diversify the boards willingly has failed. Now they retreated to force and passed a law making it compulsory for the country’s biggest companies to appoint more women on boards. In the UK, however businesses have undertaken a voluntary approach with much success.

Over the last four years female representation almost doubled in the FTSE 100, showing self regulation can work as well. With the current rate, the biggest UK companies will fulfil their promise of having a third of female representatives on boards by the end of the year. As companies are recognise gender balanced boards bring stability and improve financial returns, the number of women in top positions is increasing all over Europe.

As usual, there are vast cultural differences at work. Scandinavia, together with Spain and France has already embraced mandatory quotas, while others are still lagging behind. The ugly duckling of the European Union family is certainly Austria with meagre 3.7% females at the helm of its largest businesses. It seems women in some countries will have to wait until the proposed EU Directive, to have a third of female representatives on boards by 2020, becomes mandatory.

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From → Hic Salta

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