A European Union (EU) proposal set to be published next month will outline plans for the quota to be put in place by 2020.
Bloomsberg reported that a person familiar with the proposal has detailed that the law would be applied to all listed companies which have more that 250 employees and annual sales of over €50 million (£39.5 million).
Firms which fail to comply with the proposed rules would face such sanctions as being excluded from government tenders, facing a ban on public subsidies and being slapped with substantial fines.
The individual, who did not wish to be named as the plan was not yet made public, added that state-owned companies will be required to introduce the quotas by 2018, in order to set an example.
According to a European Commission report published in March, 13.7 per cent of board seats in the EU are currently occupied by women.
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Posted by Richard Esquilant
Hat Tip To: Salespeak News