Bulgaria proposes board quotas to boost gender balance

Bulgaria's government has proposed measures to promote gender equality in corporate leadership, including quotas aimed at increasing female representation on company boards.

The proposal, which applies to publicly traded companies, would require the less represented sex to hold between 33% and 49% of board seats and is intended to bring Bulgarian legislation into line with a European Union directive aimed at improving gender balance among company directors. EU member states were required to transpose the directive into national law by the end of 2024.

The rule would apply to management and supervisory boards, as well as boards of directors. Companies would be required to report annually the number of male and female board members and the measures taken to achieve the target.

"Gender equality policies help people, whether women or men, overcome difficulties and encourage the development of specific measures and policies," Labour and Social Policy Minister Nataliya Efremova said.

Editor: Diana Tsankova