It was published the Directive (EU) 2022/2381 of the European Parliament and of the Council, of 23 November 2022, on improving the gender balance among directors of listed companies and related measures. The Directive aims to achieve a more balanced representation of women and men among the directors of listed companies by establishing measures that aim to accelerate progress towards gender balance while allowing listed companies sufficient time to make the necessary arrangements for that purpose.

Member-States shall ensure that listed companies are subject to an objective that members of the underrepresented sex hold at least 40% of non-executive director positions. In this case, listed companies shall set individual quantitative objectives aimed at improving the gender balance among executive directors.

As an alternative, Member-States may ensure that listed companies be subject to reach an objective that members of the underrepresented sex hold at least 33% of all director positions, including executive and non-executive.

Such objectives shall be reached by June 30, 2026.

The Directive lays down a set of means to achieve said objectives, from which we highlight the requirement to adjust the process for selecting candidates for companies which do not achieve the objectives and the priority to candidates of the underrepresented sex when choosing between candidates who are equally qualified in terms of suitability, competence and professional performance.

Member States shall ensure the Directive’s transposition by December 28, 2024.

For more information please contact:

Rita Tigelerio Afonso

Hugo Martins Braz

Tiago Lopes Fernandez