Vice-President Reding calls for creative self-regulation to get more women on company boards
EU Justice Commissioner Reding met with European business leaders and social partners today to discuss how to get more women into top jobs and whether self-regulation or regulation should be the way to make swift progress. Vice-President Reding calls on all listed companies in Europe to sign a “Women on the Board Pledge for Europe ” by March 2012.
New Commission figures published today show very slow progress towards a better gender balance. Only 12% of board members at Europe's largest companies are women. As a result, companies are missing out on female talent and Europe loses a potential source of sustainable economic growth. “For the next 12 months, I want to give self-regulation a last chance. I would like companies to be creative so that regulators do not have to become creative,” said Mrs. Reding. The pledge will be available on the Vice President's website for one year, after which, on International Women's Day (8 March 2012), the Commission will assess progress and consider the best course of action.