Categories: Insights

23 Dec 2010

LAW AND COMPANY: IN THE COMPANIES THE GRADUAL INTRODUCTION OF THE SO CALLED “QUOTE ROSA”

The Senate approved the Law Decree which introduces the so called “quote rosa” in the board of the quoted companies or of the companies controlled by the public administration. In particular, it is proposed that the statue of the quoted companies provides a balance between the genders in trustees and auditors partition, with the guarantee of one third reserved positions to women. The mentioned criterion should be enforced for three consecutive mandates and it is provided for, as a sanction in the case of law violation, the forfeiture of the appointment for those members elected without the reserved quota respect. The indicated principle is necessary because of in the 50% of Italian quoted companies there are no female representation in the governance bodies. However, the European models on the matter could suggest to modify the Law Decree, with the provision of a gradual achievement of beforehand established percentages, in order to provide the qualified women selection on a merit system basis and a balanced replacement in the companies bodies. Finally, the European Commission announced a directive in the 2012 for the compulsory introduction of “quote rosa” in the companies, if there is no a significant increase of the female representation in the immediate future.
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