Europe: MEPs endorse 40% 'procedural quota' for non-executive director positions on listed company boards

On Wednesday this week, in the European Parliament, a resolution was passed by MEPs in support of legislation proposed by the Commission to increase the proportion of women occupying non-executive positions on listed company boards: see here. The proposed legislation, in the form of a Directive, will require those listed companies where women (or men) hold less than 40% of the non-executive positions to adjust their recruitment, pre-selection, selection and appointment procedures in order to contribute to the attainment of the 40% target by 1 January 2020 (a so-called 'procedural quota'). Where male and female candidates are equally qualified, priority is to be given to the candidate from the under-represented gender.