On 22 November, the European Parliament adopted the proposed "Women on Boards" directive, which will require large EU-listed companies to have at least 40% of non-executive director positions, or 33% of all director positions, occupied by members of the under-represented sex by 30 June 2026.

Companies will have to report annually on their board composition and, if the objectives have not been met, the measures taken to achieve them.

Small and medium-sized enterprises with fewer than 250 employees are excluded from the scope of the directive.

The directive will come into force 20 days following its publication in the Official Journal of the EU and member states will have two years within which to transpose it into national law.

This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.