The government plans to have a third of women in the management of large companies

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According to the Gender Equality Strategy for the years 2021–2030, which was approved by the Cabinet in 2021, the Czech Republic has long been lagging behind in promoting equal representation. Two years ago, there were 21 percent of women in the management of large companies in the Czech Republic, on which the law is to affect, while in the EU countries overall it was over 32 percent. The proposal is submitted by the Department for European Affairs.

The submitted proposal, which is supposed to change the laws in connection with the promotion of a balanced representation of women and men in the management bodies of some issuers, would affect only a few companies.

The condition is more than 250 employees and an annual turnover exceeding 50 million euros, or assets over 43 million euros.

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Women should be at least 40 percent represented on the supervisory boards of these companies, or their representation on the board of directors of the supervisory board would have to reach at least one third. The same condition also applies to men if they find themselves in the minority in the management of such a company.

At the same time, companies would have to follow transparent, non-discriminatory and merit-based criteria when selecting suitable candidates. If the company did not meet the criteria, according to the proposal, out of two comparable candidates, “the candidate of the underrepresented gender” would have to be preferred.

“According to the data of the Czech National Bank based on the issuers’ annual reports, the proposed amendment should affect the following companies when it enters into force: ČEZ, as, Komerční banka, as, Moneta Money Bank, as, Philip Morris ČR, as, and Kofola Československo, as ,” it says in the explanatory report, although it is only an illustrative list, which may change with the entry of other entities to the stock exchange.

According to the proposal, the standard could come into effect from mid-2026.

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The article is in Czech

Czechia

Tags: government plans women management large companies

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