The unlisted companies that have more than 250 employees and 50 million euros with an annual turnover They will have until July 2026 for their decision-making bodies to have 40% women at least in reference to the new parity regulations that affect all companies.
In the press conference after the Council of Ministers that approved the draft law for ensure parity in future governments and in the management of large companiesthe Minister of Economic Affairs, Nadia Calvinohas explained that in the case of the addresses and boards of directors of listed companies, this percentage must be met before July 1, 2024.
In the case of listed companies, it is established as serious infringement the breach of these provisions, explains the Government in a note. The principle of balanced representation, which neither sex is represented below 40%will also apply to electoral candidacies and members of the Government, as the President of the Executive, Pedro Sánchez, had already announced, as well as to professional associations and juries for awards or recognition of a public nature.
balanced representation
Within the scope of the General State Administration, the superior and managerial bodies (for example, the State secretariats, sub-secretariats and general directorates) of each ministry should also incorporate this principle of “balanced representation” in the next five years.
The obligation will extend to all state public sector entities. Thus, The norm thus obliges the presentation of rack lists in electoral processes since neither sex has a representation of less than 40% in the Council of Ministers. In this context, Calviño said that with this standard, Spain consolidates itself as one of the “most advanced” countries in terms of gender equality and stressed that it means going beyond the European directive both in terms of terms and objectives “Social advances are achieve with laws”, the minister has had an impact.
At the moment, The presence of women on the boards of directors of listed companies in Spain stands at 29.3% (357 female directors out of a total of 1,220), and is limited to 19.6% in the case of senior management (excluding senior female directors).
The Minister of Territorial Policy and Government Spokesperson, isabella rodriguez, has also highlighted the importance of parity remaining by law for future Executives. “Fortunately, the Government has many women’s voices and what it is about is that it is not out of conviction, as it has been in the case of President Pedro Sánchez, but that those who do not believe in equality have the obligation to have the the same number of women as men”, pointed out
