1. Women
on
Board
The
state
of
art
of
quotas
regula4on
in
Europe
Isabella
Lenarduzzi

2. JUMP
www.jump.eu.com
• JUMP
offers
women
prac4cal
tools
to
help
them
realise
their
professional
and
personal
aspira4ons
• JUMP
supports
companies
and
organisa4ons
that
wish
to
promote
beEer
gender
diversity
within
their
management.

3. The
gender
Diversity
Ecosystem
by
McKinsey
and
the
correspondent
JUMP
ini4a4ves

4. European
figures
S4ll
a
long
way
to
go!

5.
Women
in
execu+ve
commi-ees
(2011)

6. Women in economic decision-making in the EU: Progress report
European Commission, 2010
Women
on
boards

7. Women in economic decision-making in the EU: Progress report
European Commission, 2010
Women
on
boards

8. Women in economic decision-making in the EU: Progress report
European Commission, 2010
Women
on
boards

9. Women in economic decision-making in the EU: Progress report
European Commission, 2010
Women
on
boards

10. Women in economic decision-making in the EU: Progress report
European Commission, 2010
Women
on
boards

11. Women in economic decision-making in the EU: Progress report
European Commission, 2010
Women
on
boards

12. Ac4ons
promoted
by
governments
“The
quota
law
has
opened
boardrooms
to
an
extent
that
we’ve
never
seen
before,”
Mari
Teigen,
research
director,
Norwegian
Ins4tute
for
Social
Research

13. Overview
of
measures
in
place

14. Norway
• Norway
was
the
first
country
in
the
world
to
implement
board
quotas
•
Numbers
of
women
on
corporate
boards
have
risen
from
only
6%
in
2002
to
over
44%
today.
•
"By
not
u(lising
the
full
talent
pool
I
knew
Norway
as
a
na(on
was
missing
out.
My
ambi(on
as
a
Minister
was
to
force
companies
to
rethink
their
board
recrui:ng
prac:ces.
I
believe
we
succeeded,"
Ansgar
Gabrielsen
(Former
Minister
of
Trade)
• “We
have
invested
billions
educa(ng
our
daughters
as
much
as
our
sons,”
Gabrielsen
said.
“Their
ongoing
exclusion
from
corporate
boards,
which
are
an
important
part
of
our
society
just
doesn’t
make
economic
sense”

15. Norway,
the
law
• The
law
demands
that
public
shareholder-­‐owned
corpora4ons
(called
ASAs
in
Norway)
must
have
an
average
of
at
least
40%
women
and
40%
men
on
their
boards
or
face
dissolu+on.
• The
law
came
into
force
in
2008
and
related
to
7,000
seats
on
boards.
The
compulsory
percentage
of
gender
diversity
varies
according
to
the
number
of
seats
concerned:
1
in
2
or
3
seats;
38%
of
8
seats;
and
40%
of
more
than
8
seats.

16. Norway,
the
results
• Posi+on:
Only
3%
of
chairs
are
held
by
women.
• Age:
Women
are
younger
than
men
on
boards.
The
majority
are
less
than
50.
The
older
men
on
boards
were
not
replaced
by
women
but
when
recrui4ng
new
members
they
recruted
women.
• Educa+on:
Women
tend
to
be
beEer
educated
than
men.
There
are
fewer
of
them
with
science
and
technology
degrees
but
more
with
law
degrees.
• Experience:
More
women
than
men
are
managers
in
companies
or
come
from
academia
but
more
men
than
women
are
business
owners.
• Recruitment:
Women
were
recruited
in
the
same
manner
as
men,
mostly
through
professional
networks.
The
phenomena
of
the
concentra4on
of
power
and
the
so-­‐called
“golden
skirts”,
which
defines
a
number
of
women
who
serve
on
several
different
boards
at
the
same
4me,
is
a
very
common
idea.
The
research
proved
that
golden
skirts
was
a
men’s
wear
with
62%
holding
only
one
board
posi4on
instead
of
79%
of
Women!

17. Norway,
the
results
• The
more
visible
and
skilled
the
women
the
more
advantages
they
had.
For
example,
as
the
research
suggests,
these
women
always
choose
the
biggest
companies.
• Sixty
percent
of
male
board
members
said
there
had
been
no
major
changes
to
board
opera+ons
since
the
law
took
effect
but
there
were
some
improvements:
“more
discussions”
and
“new
perspec+ves”.
• Several
top
Norwegian
business
leaders
said
they
were
“opposed
in
principle”
to
quotas
and
s4ll
are,
but
believed
the
law
has
been
effec4ve.
Fears
of
not
finding
enough
qualified
women
to
fill
board
seats
proved
unfounded.
“I’m
in
principle
against
quotas,”
said
Harald
Norvik,
chairman
of
Telenor
and
former
CEO
of
Statoil.
“But
I’m
happy
with
the
result,”
he
added.

18. Norway,
the
results
Adverse
consequences
• Since
the
law
on
quota,
the
number
of
public-­‐listed
companies
has
fallen.
The
research
highlighted
that
33%
of
companies
choosing
not
to
list
on
the
stock
exchange
did
so
to
evade
the
quota
regula4on.
• Since
the
law
was
enforced,
there
has
been
no
further
debate
on
gender
diversity
in
Norway
but
the
balance
is
s4ll
far
off:
the
quota
law
did
not
change
the
number
of
women
CEOs
(2%)
or
their
presence
in
the
Execu4ve
CommiEee
(10%).
The
private
limited
companies
that
didn’t
have
to
comply
with
the
law
saw
an
increase
of
women
on
their
boards
from
15%
in
2004
to
17%
in
2009!

19. France,
the
law
• Law
adopted
in
January
2011
• 2014
to
get
to
20%
and
2018
to
get
to
40%
of
women
• To
be
applied
to
large
listed
companies
with
more
than
500
employees
and
more
than
50
million
€
revenues
• Penalty:
no
validity
of
board
decisions
• First
results
:
from
8%
in
2008
to
22%
in
2012

20. Belgium,
the
law
• Law
adopted
30
June
2011
• 30%
to
be
reached
for
each
sex
in
…
-­‐
One
year
for
public
owned
companies
-­‐
Six
years
for
listed
companies
-­‐
Eight
years
for
SMEs
• Penalty
:
no
revenues
of
any
kind
for
board
members

21. Ini4a4ves
With
the
legisla4on
on
equality
in
Belgium,
the
propor4on
of
women
in
parliaments
has
risen
more
than
20%
in
ten
years

22. Italy,
the
law
•
The
law
was
adopted
on
the
29th
of
June
2011
•
Objec4ve
:
20%
from
2012
and
33%
from
2015
•
Only
for
listed
companies
•
Penalty
:
several
steps
from
warning
to
financial
sanc4on
(up
to
1
million€)
and
decay
from
boards

23. Netherlands,
the
law
•
The
law
was
adopted
in
May
2011
•
First
to
be
implemented
in
both
boards
and
exec
–
30%
of
women
•
Validity
of
3
years
(2012
–
2015)!
•
No
penalty
–
only
explana4on
of
efforts
undertaken

24. Spain,
the
law
• Law
adopted
in
2007
• Objec4ve
of
40%
of
each
sex
by
2015
• No
penalty
–
but
taken
into
account
for
public
subsidies
or
state
administra4on
contract
• Results:
4%
in
2006
to
11%
in
2010

25. The
European
Commission
• 14%
of
board
members
at
Europe’s
top
firms
are
women,
up
from
11.8%
in
2010.
• «Ce
qui
compte
pour
moi,
c’est
le
résultat.
Mon
objec+f
est
de
porter
la
présence
des
femmes
au
sein
des
conseils
d’entreprises
des
principales
sociétés
cotées
en
bourse
en
Europe
à
30
%
d’ici
à
2015
et
à
40
%
d’ici
à
2020.»
• Failure
of
the
charter
for
corporate
commitment
• 9
countries
are
opposed
to
the
ini4a4ve
(UK
and
Nl)
+
Germany

26. Conclusions
(2)
5. Mid-­‐term
targets
help
to
meet
long-­‐term
goals
6. Progress
towards
equal
representa4on
for
women
and
men
is
slower
for
execu4ve
board
posi4ons
7. Quota
legisla4on
does
not
increase
the
number
of
female
CEOs
8. Awareness
raising
and
promo4ng
women
help
reaching
targets

27. Conclusions
1. Interven4on
makes
a
difference
in
progressing
towards
equality
on
boards
2. Self
regula4on
builds
ground
for
legisla4on
3. Quota
legisla4on
is
most
effec4ve
when
endorsed
by
sanc4ons
4. Effec4ve
self-­‐regula4on
requires
targets,
deadlines
and
state-­‐endorsed
monitoring

28. Quotas
are
not
a
scandal
–
what
is
a
shame
is
that
we
need
it!

29. Conclusion
Women’s
energy
and
talent
are
the
most
untapped
renewable
sources
of
energy
in
the
world!

30. Isabella
Lenarduzzi
Founder
and
Managing
Director
of
JUMP
isabella.lenarduzzi@jump.eu.com
+32
3
346
32
00
info@jump.eu.com
jump.eu.com
www.jump.eu.com