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Italy Plans To Increase Quotas For Women On The Corporate Boards

Reportedly, Italy is prepared to tighten quotas targeted at attracting more women on corporate boards, elevating the threshold to 40% and emphasizing the achievement of measures that have turned the nation from one of Europe’s slackers to one of the leading five in less than a decade. The purported “pink quota,” which is a part of a package of budget measures anticipated to be sanctioned by the end of 2019, established on an original law approved in 2011, requiring listed firms to have a minimum of 30% of female representatives on their boards. When former policymaker Lella Golfo introduced the law in 2011, there were just 170 women on corporate boards of Italy, against over 2,700 men, which is a level of 6%. At the moment, the level is about 38% and more than 40% are in supervisory boards.

Italy Plans To Increase Quotas For Women On The Corporate Boards

Golfo said, “At that time, the Bank of Italy stated it will take a minimum of 50 Years to attain the 30% threshold.” A new survey by Credit Suisse, ranked Italy in the fifth position internationally after Sweden, Belgium, Norway and France, in which 44.4% are female board members. Maria Elena Cappello said, “The most important benefit is the development of the quality of boards overall.” Cappello is a board member in four registered Italian firms—Prysmian, MPS, Saipem, and Tim. A series of main Italian firms have now comprised gender equality stipulations in their regulations, including gas service Snam, bank Ubi Banca, power group Enel, and aerospace and defense giant Leonardo. The change in a nation not generally known for supporting women’s careers has been extensively welcomed but several warn that much more requires to be done to maintain true balance amongst corporate leadership.

Speaking of “pink quota,” recently it was stated that the movement has changed Europe’s boards. More American female officials are acquiring seats in Europe’s meeting rooms, partly as firms there experience mandates to add women directors. Whilst most of the European firms are focusing on their board recruiting attempts on European women, several are also seeking candidates who can assist them in expanding their American contacts and sales.

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