Thursday, January 21, 2010

France to push women into the boardroom

TimesOnline
January 21, 2010

The French version of the glass ceiling has just been cracked open by parliamentary vote. With the backing of President Sarkozy's administration, the National Assembly last night passed a bill that aims to force big companies to appoint women to 40 percent of their seats on the board.
The quota is likely to reach the statue books, with amendments, later this year, making France the biggest state so far to use the law to break the boys only culture of the boardroom. Norway introduced a 40 percent rule in 2002 when women accounted for only 6 per cent of board seats there. Spain has also just passed a similar law.
The measure will mean an upheaval because the boards of France's top companies remain male bastions, along with those of southern Europe (see chart below). Women occupy just 10.5 percent of board seats in the 650 publicly quoted companies to which the new law will apply. Corporations will have six years to reach the 40 percent mark. After that, all board appointments will be voided if they do not maintain at least a 60-40 share between men and women.

Full Story: http://timescorrespondents.typepad.com/charles_bremner/2010/01/france-pushes-women-into-the-boardroom-.html

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