<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="Generator" content="Microsoft Word 15 (filtered medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
{font-family:Wingdings;
panose-1:5 0 0 0 0 0 0 0 0 0;}
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:roboto;}
@font-face
{font-family:"Fira Sans";}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri",sans-serif;}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:#0563C1;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:#954F72;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal;
font-family:"Calibri",sans-serif;
color:windowtext;
font-weight:normal;
font-style:normal;
text-decoration:none none;}
span.EmailStyle18
{mso-style-type:personal-reply;
font-family:"Calibri",sans-serif;
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
/* List Definitions */
@list l0
{mso-list-id:1589579603;
mso-list-template-ids:765748852;}
@list l0:level1
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:.5in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Symbol;}
@list l0:level2
{mso-level-number-format:bullet;
mso-level-text:o;
mso-level-tab-stop:1.0in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:"Courier New";
mso-bidi-font-family:"Times New Roman";}
@list l0:level3
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:1.5in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
@list l0:level4
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:2.0in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
@list l0:level5
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:2.5in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
@list l0:level6
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:3.0in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
@list l0:level7
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:3.5in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
@list l0:level8
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:4.0in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
@list l0:level9
{mso-level-number-format:bullet;
mso-level-text:;
mso-level-tab-stop:4.5in;
mso-level-number-position:left;
text-indent:-.25in;
mso-ansi-font-size:10.0pt;
font-family:Wingdings;}
ol
{margin-bottom:0in;}
ul
{margin-bottom:0in;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="#0563C1" vlink="#954F72">
<div class="WordSection1">
<p class="MsoNormal">EIGE – European Institute for Gender Equality<o:p></o:p></p>
<p class="MsoNormal"><a href="https://eige.europa.eu/gender-statistics/dgs/data-talks/legislative-quotas-can-be-strong-drivers-gender-balance-boardrooms?utm_source=newsletter&utm_medium=email&utm_campaign=money_and_power_in_the_eu_equally_shared&utm_term=2019-07-10">https://eige.europa.eu/gender-statistics/dgs/data-talks/legislative-quotas-can-be-strong-drivers-gender-balance-boardrooms?utm_source=newsletter&utm_medium=email&utm_campaign=money_and_power_in_the_eu_equally_shared&utm_term=2019-07-10</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="background:white"><b><span lang="EN" style="font-size:16.0pt;font-family:"Fira Sans";color:#3E4047">EU - Legislative Quotas Can Be Strong Drivers for Gender Balance in Boardrooms<o:p></o:p></span></b></p>
<p class="MsoNormal" style="background:white"><b><span lang="EN" style="font-size:16.0pt;font-family:"Fira Sans";color:#3E4047"><o:p> </o:p></span></b></p>
<p class="MsoNormal" style="background:white"><a href="https://eige.europa.eu/sites/default/files/styles/eige_original_optimised/public/images/shutterstock_509507833.jpg?itok=qO9ITYNI" title=""Rawpixel.com/Shutterstock.com" "><span style="font-size:12.0pt;font-family:roboto;color:#001689;text-decoration:none"><img border="0" width="590" height="328" id="Picture_x0020_2" src="cid:image001.jpg@01D538A3.AA81B6B0" alt="gender balance"></span></a><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:#E0E0E0"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Rawpixel.com/Shutterstock.com<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><b><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></b></p>
<p class="MsoNormal" style="background:white"><b><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Over the last nine years, the proportion of women on the boards of the largest listed companies across the EU has more than doubled: from
12 % in October 2010, to 28 % in April 2019. The countries that introduced legislative quotas were driving the progress, but soft measures have also worked in some countries. However, gender balance has not made significant improvements in the countries that
have not taken any action.<o:p></o:p></span></b></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">In 2010, the European Commission suggested legislative action and two years later proposed a Directive with a target to reach 40 % women
on boards. Despite the fact that no agreement was reached on the proposal of a Directive, several EU Member States took proactive measures to improve gender-balance in economic decision-making.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">In April 2019, the boards of largest listed companies across the 28 EU Member States had 28 % women and 72 % men. The proportion of women has increased
by 1 percentage point (pp) in the last 6 months.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">France remains the only Member State with at least 40 % of each gender on the combined boards of the companies covered; a figure first reached in October
2016 following the adoption of a 40 % quota in 2011. This quota is applicable to companies with more than 500 employees or revenues over € 50 million.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Women account for at least a third of board members in Sweden, Italy, Finland, Belgium and Germany. In Cyprus, Greece, Malta and Estonia women make up 10%
or less of board members.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">The difference between action and inaction is striking. The six countries with binding quotas currently have 35 % women on boards (aggregate of all companies
covered in those countries) and this proportion has gone up by 26 pp since October 2010.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Countries using soft measures have 27 % women on boards, up by 13 pp over the period. In stark contrast, no-action Member States have just 15 % women on
boards and the level of female representation has only increased by less than 3 pp since October 2010.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Progress at board level is not replicated at the executive level. In April 2019, women accounted for just 18 % of senior executives compared to 30 % of
non-executives. To some extent this reflects the fact that quotas tend to apply only to supervisory boards, which are composed primarily of non-executives. This highlights the need for gender equality policies within companies.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:0in;text-indent:-.25in;mso-list:l0 level1 lfo2;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol;color:#3E4047"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Figure: change in the share of women on boards of the largest listed companies October 2010- April 2019 by type of action taken.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-size:12.0pt;font-family:roboto;color:#3E4047"><img border="0" width="931" height="406" id="Picture_x0020_3" src="cid:image002.png@01D538A3.AA81B6B0" alt="women on boards"></span><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Source: EIGE
<a href="https://eige.europa.eu/gender-statistics/dgs"><span style="color:#001689;text-decoration:none">Gender Statistics Database</span></a> – largest listed companies.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Legislative gender quota targets: FR (40%), BE, IT & PT (33%), DE & AT (30%). “Soft measures” includes Member States with legislative quotas
that are restricted to state-owned companies or applied without sanctions.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><b><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Further information</span></b><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">Since 2017, EIGE collects and produces harmonised and comparable gender statistics in the area of women and men in decision-making (politics;
public administration; judiciary; business and finance; social partners and NGOs; environment and climate change; media; education, science and research; and sports).<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">EIGE’s Gender Statistics Database provides statistical evidence that can support and complement the
<a href="https://ec.europa.eu/anti-trafficking/eu-policy/strategic-engagement-gender-equality-2016-2019_en">
<span style="color:#001689;text-decoration:none">European Commission’s Strategic Engagement for Gender Equality 2016 - 2019</span></a> and support the Member States to monitor their progress.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">All data can be found in
<a href="https://eige.europa.eu/gender-statistics/dgs"><span style="color:#001689;text-decoration:none">Gender Statistics Database: Women and men in decision-making</span></a><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047">The latest on data largest listed companies were published in May 2019.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN" style="font-size:12.0pt;font-family:roboto;color:#3E4047"><o:p> </o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
</body>
</html>