CONSTITUTIONAL VALUES UNDERLYING GENDER EQUALITY ON THE BOARDS OF COMPANIES: HOW SHOULD THE EU PUT THESE VALUES INTO PRACTICE?

Abstract

AbstractThere is a large gap between the proportion of employed and well-educated women and those sitting on the boards of EU companies. However, the Commission's proposal for a Directive on improving the gender balance among non-executive directors of companies listed on stock exchanges does not constitute an appropriate legal solution for this problem. The Commission's reasoning underlying the draft Directive is so strongly pervaded by economic considerations that it gives the impression that women are merely instruments useful to attain economic objectives. By contrast, the need for enhancing women's representation in the boards of companies is justified by much more fundamental and incomparably higher-ranked values, and including equality between women and men and the need for democratic legitimization of the EU and of its economic governance. These fundamental values, however, must be achieved in accordance with the principles of proportionality and subsidiarity. The present article proposes some alternatives to compulsory gender quotas that might be used by EU institutions to promote more gender-balanced boards of EU companies.