Feb 04, 2024

New Bill Proposes at Least One-Third of Women in Large Companies Boards

Cara Stevenson

Cara Stevenson

In a move to enhance gender representation in the Czech Republic’s corporate sector, the government has unveiled a draft law advocating a minimum of one-third female participation in the management of large companies.

The legislation emphasizes transparency and clear criteria in the selection process for board members, aiming to address the current disparity.

The proposed law targets five major companies and banks.

On average, women hold 32.2 percent of leadership positions across the EU, while in Czechia, it is only 21 percent.

It ranks 20th out of the 27 EU member states when it comes to representation of women in upper management and has long been criticised for failure to do anything to improve the situation.

The legislation aligns with the European directive from the previous year, compelling the Czech Republic to adopt regulations by December 28.

To meet the criteria, companies must have at least 40% women on supervisory and management boards or a combined 33% on boards and management boards.

The law specifically names major companies like ČEZ, Komerční banka, Moneta Money Bank, Philip Morris ČR, and Kofola Československo as subject to these regulations.

The proposed law sets a deadline for companies to achieve gender balance by mid-2026, requiring them to publish progress reports and candidate selection details. Non-compliance may result in fines, with oversight provided by relevant government bodies.

According to the accompanying documents on the government’s website, the law is being adopted in the most minimal form required for it to still comply with the EU directive.

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