The EU Council adopted, on Monday 17 October, its first reading position on the directive on a better gender balance among non-executive directors of listed companies in the EU (‘Women on Boards’).
After ten years of deadlock (see EUROPE 12823/17), the Member States, meeting in the EU ‘Agriculture and Fisheries’ Council (AGRIPECHE), have reached the required qualified majority. Unsurprisingly, Poland, Hungary and Sweden were opposed, while the Czech Republic, Estonia, Latvia and Slovakia abstained (see EUROPE 13043/31).
The final text calls for Member States to reach a target of 40% of executive director positions held by women by 2026, or 33% of positions, if the target is extended to non-executive directors. It also introduces derogations for countries that have effective legislation in place before the entry into force of the directive.
Following a political agreement on the directive earlier this year in the EU Council (see EUROPE 12910/16), the European Parliament’s Committee on Women’s Rights (FEMM) renewed its 2013 position (see EUROPE 12912/11). The directive must now be formally adopted by the European Parliament.
Read the position of the Council of the EU: https://aeur.eu/f/3n3
And the reasons given: https://aeur.eu/f/3n4 (Original version in French by Hélène Seynaeve)