Swiss government boost to gender equality
Plans to impose gender quotas on boards and managements of listed Swiss companies have been endorsed by the government as part of a wide-ranging legal amendment to be discussed by parliament.
The bill includes a minimum 30% quota for women on company boards and at least 20% for members of company managements.
However, the bill stops short of imposing sanctions for companies which fail to implement the quota within up to five or ten years respectively.
Instead, it proposes a ‘comply or explain’ regulation as a best practice standard.
Justice Minister Simonetta Sommaruga said the measure was necessary to boost transparency in the sector and protect Switzerland from risking its reputation.