Institutional investors urge Dutch listed companies to nominate more female executive and supervisory directors
Institutional investors have urged Dutch companies to take more actions towards achieving a more gender balanced executive and supervisory board. They believe that progress made in appointing more female executive and supervisory directors in the past five years is disappointing and requires companies to accelerate their board refreshment process and to upgrade their talent management programme. To this end, Eumedion has sent a letter to all Ducht listed companies that have not yet reached the legal target of at least 30% female executive and supervisory directors.
In the letter Eumedion states that its participants have the firm belief that a diverse board makes better, more robust decisions, as well as better assess the business risks and opportunities. It also sets the tone at the top for the diverse talent the company seeks to attract. Eumedion therefore urges companies to publicly adopt a diversity policy that includes a commitment to increase board gender diversity and measurable goals or targets to increase board gender diversity in the next two years. Eumedion points out that an increasing number of institutional investors are considering or have started to take action by themselves by voting against boards that have made no progress in improving board gender diversity. The seven Dutch listed companies that already have more than 30% female excutive and supervisory directors have been sent a support letter in order to give continued attention to board diversity in the years to come.