Previous post Next post

Switzerland moves closer to female board quotas

Seats

© Cecilia Lim | Dreamstime - Click to enlarge

This week, Switzerland moved closer to requiring minimum percentages of women on company boards and management teams.

A parliamentary commission came out in support of the Federal Council’s plan to require greater gender balance in the boardrooms of Switzerland’s large listed companies.

A commission majority (14 versus 11) would like to see a minimum of 30% of board members and 20% of the management of these companies made up of each gender – a 100% female boardroom would fall foul of planned rules too.

Companies failing to comply would need to explain themselves and present plans to meet the requirements.

A majority of the commission wants the transition period to be three years for boards and five years for management teams. This is shorter than the five and ten year periods in the Federal Council’s plan. Transition would start once the rules were in force.

The commission, which is working for the parliamentary Legal Affairs Committee, is formulating gender quota rules for inclusion in Swiss company law alongside legal changes implementing the successful vote to rein in excessive pay packages at some large companies. The 2013 vote on management pay, dubbed the Minder initiative after Thomas Minder, the politician behind it, was supported by 68% of voters.

Full story here Are you the author?
About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.
Previous post See more for 3.) Investec Next post
Tags:

Permanent link to this article: https://snbchf.com/2017/11/investec-switzerland-moves-board-quotas/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.