Swiss Lawmakers Back Plan for Gender Quotas for Listed Companies

(Bloomberg) -- Swiss lawmakers in parliament’s upper house voted in favor of a measure to increase the number of women in management of large, listed companies.

The draft law includes a 30% guideline for women on corporate boards and 20% representation on executive committees. Companies that don’t meet those benchmarks need to provide an explanation for the shortfall in their annual compensation report and present a plan for improvement.

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The lower house of parliament already voted in favor of the change last year. However, the gender guideline for companies is part of a larger overhaul of the corporate legal code, which hasn’t yet been completed.

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