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Gender balance in the boardroom

Published on : 12/11/2024 12 November Nov 11 2024
Newsletter / New legislation
Newsletter

Ordonnance no. 2024-934 of October 15, 2024, has transposed the November 23rd, 2022 "Women on Boards” EU Directive into French law.

For memory, the "Copé-Zimmermann” Act of January 27th, 2011, had already introduced gender balance obligations into French law for Boards of Directors and Supervisory Boards of listed and unlisted companies having more than 250 employees and a net turnover or balance sheet total equal to at least EUR 50 million. Such companies had to ensure that at least 40% of Board members were of the less represented gender (i.e. women). However, these provisions did not apply to Board members representing employee shareholders and Board members nominated by staff.

The 2024 Ordonnance now provides that from June 30th, 2026, Board members representing employee shareholders must be taken into account when calculating the minimum 40%. However, Board members appointed by staff cannot be considered. They must be treated as a separate college and also respect this 40% rule.  

A further Decree is expected namely on the specific recruitment process which will be imposed on companies which do not comply by 2026.
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