Skip to main site content.
General Electric France's chairman Clara Gaymard has been appointed to 3 new boards this year. (PATRICK KOVARIK/AFP/Getty Images)

On deadline

Why companies in France are scrambling to get more women on corporate boards

March 28, 2016

According to reports, companies in France have been appointing women to their corporate boards in droves recently. Why the sudden flurry of female board appointees? Because, by law, companies are required to meet a quota of women-held board seats by the time calendar turns to 2017. A law passed in 2011 mandates that at least 40 percent of board members for companies listed on the CAC 40 (a French stock index) must be occupied women by next year, up from 35 percent required by the previous law. Any company that doesn’t hit the target by the deadline won’t be allowed to make any other board-level changes that don’t contribute to fulfilling the quota. The hiring scramble is making the environment for those board seats highly competitive and some companies are reportedly looking abroad for top talent to fill the positions.

India enacted a similar law, for which the deadline was April of 2015, and while it looked like companies might not meet the requirements by the deadline last year, a mad-dash in the final weeks resulted in Indian businesses meeting the mandate.

Read the full story at Fortune.