This week, it was announced by the European Commission that plans to boost female representation at board level will not include mandatory quotas.
The proposed legislation aims to attain a 40% quota of females in non-executive board-member positions by 2020. However, companies will not face sanctions if they do not meet this quota. In addition, the legislation will not apply to any company that employs fewer than 250 workers, or to companies that are not listed on a stock exchange.
The UK welcomed the decision not to impose mandatory quotas, stating that such measures are best considered at national level.
The Commission’s proposal can be found here.