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Article

5 Mar 2012

Author:
AFP

EU considers quotas for women directors

The EU warned...it is ready to legislate to get more women into boardrooms, after just 24 out of the European Union's estimated 20 million businesses signed up to a voluntary initiative...European Union justice commissioner Viviane Reding said...she will consider EU "legislative measures"..."Self-regulation so far has not brought about satisfactory results," she said, citing business surveys conducted by McKinsey and Ernst & Young as proof that "the lack of women in top jobs in the business world harms Europe's competitiveness and hampers economic growth"...Women make up 27 percent of boards in the largest Finnish companies, but only three percent of those in Malta, national breakdowns showed. At 40 percent, Norway has the highest presence of women on company boards within the OECD...[refers to McKinsey, Ernst & Young]