On 14 November, the European Commission presented its controversial proposal concerning gender equality. The proposal sets an objective of 40% of women in non-executive managing positions in companies listed on stock exchanges (app. 5000 companies in the EU). The measure will not be applied on small and medium size enterprises (companies with less than 250 employees and an annual worldwide turnover not exceeding 50 million EUR).
If the directive gets a green light from the European Parliament, publicly listed companies will be obliged to meet the objective of 40% women on their non-executive managing positions until 2020. The Member states will be obliged to develop controlling mechanisms and set appropriate and dissuasive sanctions for companies that will not meet the target. The measure should be only temporary, though. Its validity will expire in 2028.
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26th October 2020
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