Secretary of State for Gender Equality, Equal Opportunities and Diversity puts the introduction of quotas for executive committees on the government table

For Leroy, this extension is necessary. As has been decided in France, the Secretary of State wants quotas for executive committees in our country: "In the Bel-20 boards, only 16% are women. Since the introduction of the quota law in 2011, the proportion of women on boards has risen from 8 per cent in 2008 to more than 33 per cent. Quotas work and without them we lose time".  

Specifically, the extension of the quota law will encourage listed companies to make their executive committees more balanced by appointing at least one-third of each gender. On boards, the rules will be tightened to a minimum of 40 per cent of each gender. Companies will be given sufficient time to comply. Leroy plans to implement the extension in cooperation with her federal counterparts and in consultation with the field. The extension is intended to be a temporary measure that can be lifted once the glass ceiling is broken.  

In June, JUMP, an organisation that promotes gender equality, published a ranking of the #BEL20 companies according to the number of women at the top of their boards and executive committees. The figures speak for themselves: although 60.6% of university graduates are women, too few women reach the top of the corporate world. Belgium is even below the European average (19%), with only 16.7% women in executive positions. 13 of the 20 richest companies have no or only one woman on their board.   

"Society is 52% female, so why is the same not true for the composition of the executive committees of Belgian companies? Especially since a more diverse composition leads to better business results, according to the European Investment Bank, which bases this on several studies," Leroy wonders: "Executive committees take a large number of decisions. On management, human resources, labour law, sustainable business... Think, for example, of maternity, parental and carer's leave. Women know exactly what impact these have on a career. These debates need to take place within a company. By putting more women on executive committees, you bring different ideas and experiences. It enriches society, it enriches companies and it gives women the chance to develop their full potential in their careers.  

Driven by the quota law that came into force in 2011, the number of women on boards has risen sharply: from 8% in 2008 to more than 33%, a fourfold increase. Quotas have also proved their worth in the Belgian parliaments: in the Federal Parliament, the number of women rose from 16% to more than 40% by 2019, following the introduction of quotas for the composition of electoral lists.   

Leroy: "Unfortunately, we see that quotas are needed to get more women on the boards of listed companies. This is also the case in Europe. That is why, in consultation and cooperation with my colleagues, and as encouraged by the European directive on quotas, I would like to take the initiative to extend the principles of the Belgian law on quotas on boards of directors to the executive committees and other executive bodies of listed companies.