More women in the boardrooms

“All boards in the municipal owned companies shall have at least 40 percent women”, suggests the government. – These companies represent common values. They need more women in their boards, “said Minister of Local Government and Regional Development Magnhild Meltveit Kleppa.

Kleppa puts forward proposals for changes in the law that would require municipalities have gender-balanced composition of the boards of the corporation where at least 2/3 of the shares are owned by the goverment.

Currently, only 30 percent of the directors in these companies are women. With the introduction of this law, Norway will be the first European country to introduce an absolute requirement for gender balance in the municipal-controlled corporations.

Companies other than the municipal or state owned ones are not affected by the proposal. The Ministry plan to implement the new rules in 1.1.2010 and proposes a transitional phase for two years.

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