Gendering Economic and Financial Governance through Positive Action Measures

Abstract

The number of female directors on the boards of large listed companies in the European Union (EU) is very low and progress towards equal participation and representation of women and men on company boards has been extremely slow. In the aftermath of the recent global financial crisis, the lack of gender diversity on corporate boards has become less justifiable. In response to the clear need for change, a number of European countries and the EU have adopted or proposed the introduction of various positive action measures designed to tackle the gender imbalance on corporate boards. This article compares and contrasts the methods used in France and the EU to achieve a better gender balance on company boards. It questions the applicability of the French measures within the EU and suggests that the French approach is compatible with EU law and is also wide reaching in its coverage of executive as well as non-executive directors. It arguably underpins a shift from gender equality to a broader approach of democratic legitimacy for entities that affect citizens' life. As such, the French approach goes further than the proposed EU directive and it has the potential to be used as a model within the EU.