June 16, 2022 | Editor: Martin Wennerström
EU to impose gender quota for listed companies
The European Parliament and Council of the European Union have reached an agreement to impose gender quotas for the executive and non-executive boards of EU-listed companies. The proposed directive would require companies to have at least 40% female representation among non-executives and at least 33% female representation among non-executives and executives combined. In addition, the directive would require companies to have clear and transparent appointment procedures for both executives and non-executives. As with all EU directives, Member States will need to transpose its provisions into national law within two years. Possible enforcement mechanisms include the annulment of director appointments, fines, or publication of the names of non-compliant companies.
Bolsonaro considers selling
Petrobras stake
Blackstone gets greenlight for Crown Resorts takeover
Reuters| ABC| WA Gov't | Reuters |
Yandex CEO resigns over EU
sanctions
Recent Content
Governance in Brief – June 8, 2023
European Parliament approves CSDDD The European Parliament has approved the “Corporate Sustainability Due Diligence Directive.” Under the new rules, companies will be required to identify and address the negative impact of their activities and value chains on human rights and the environment. Additionally, companies will need to implement climate transition plans, and, in the case of companies with more than 1,000 employees, tie directors' variable compensation to target achievement.
Governance in Brief – June 1, 2023
Citigroup to IPO Banamex after Mexican gov’t interventions hamper sales deal Citigroup has announced a plan to spin off its Mexican business, Banamex, after a failure to sell the unit to conglomerate Grupo Mexico. Citigroup had been in talks with German Larrea, CEO and Chairman of Grupo Mexico, for over a year in an attempt to orchestrate the sale of the bank, which was first announced at the start of 2022.
Governance in Brief – May 25, 2023
Activist investor pushes for leadership and strategy changes at NRG Energy Activist investor Elliott Investment Management has disclosed a 13% stake in the US-based NRG Energy and called for leadership and operational changes at the company to remedy its “meaningful underperformance.” The investor urged NRG to add independent directors with experience in the power and energy sector to its board, noting that it has already identified five executives to guide the operational and strategic changes.