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New rules for women on the board of directors

New rules for women on the board of directors

As of 1 April 2013, new rules will apply regarding the composition of the boards of directors as well as managers, which aims at getting more women on the boards of directors and as part of the management.

The new rules of more women apply for the following companies:

• Listed companies.

• Large capital companies. Large capital companies means companies which for two consecutive years meet the following criteria:

1) A balance sheet total of EUR 143 million.
2) A net turnover of EUR 286 million.
3) An average number of full-time employees of 250.

• Financial service companies which are either listed or in two consecutive financial years have a balance sheet or assets of more than EUR 500 million.

Government-owned companies.

The abovementioned companies shall set targets for the proportion of the underrepresented sex in the supreme governing body (the board of directors) and develop a policy to increase the number of the underrepresented sex in the companies’ management level in general.

In connection with the annual report for 2013, the companies must account for whether the target figure is met as well as inform about the policy.

Anja Bülow Jensen

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