Eumedion not in favour of European legislation on 'women on boards'
25-05-2012
Eumedion is not in favour of a European legislative initiative to improve the gender balance in the boards of European listed companies. However, in the selection and appointment process for new board members, the executive search company should support a range of candidates who add to the broader diversity of the board without compromising board quality, effectiveness and cohesion. This is Eumedion's central message in its reaction to he European Commission's consultation on gender imbalance in corporate boards in the EU.
Eumedion believes that the focus of the consultation on only gender imbalance in corporate boards is too limited. The European Commission should have taken a more broader approach to diversity of perspectives and experience, including - and in addition to gender - professional experience, psychological type, ethnicity as well as national, cultural and social background. Moreover, Eumedion believes that a process driven by companies and investors, rather than purely by legislation, is more likely to be effective in addressing both the symptoms and causes of company-specfic diversity challenges. Eumedion is concerned that an overly compliance-driven approach at board recruitment level may result in poor choices that compromise board quality, effectiveness and cohesion.