The information contained in this document is marketing material and for informational purposes only. The information contained in this document is presented without any warranty or representation as to its accuracy or completeness and all implied representations or warranties of any kind are hereby disclaimed. Recipients of this document, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this document without seeking appropriate professional advice. The provision of the information contained in this document does not establish any express or implied duty or obligation between Citco and any recipient and neither Citco nor any of its shareholders, members, directors, principals or personnel shall be responsible or liable for results arising from the use or reliance of the information contained in this document including, without limitation, any loss (whether direct, indirect, in contract, tort or otherwise) arising from any decision made or action taken by any party in reliance upon the information contained in this document. © The Citco Group Limited, December 2024.
New Gender diversity rules for large Dutch companies
On 28 September 2021, the Dutch Senate adopted a Gender Balance Act, which aims to achieve a more balanced male-female ratio on the management and supervisory boards of large BVs and NVs.
The new law introduces a quota for Dutch listed companies in terms of which their supervisory boards must consist of at least one-third male and one-third female members. In addition, the new legislation requires for the NVs and BVs, which qualify as ‘large companies’ to set target numbers in order to improve the gender balance on the management and supervisory boards and at the senior management levels. An appointment of a person that does not contribute to a more balanced gender ratio on the supervisory board will be considered null and void.
Dutch companies will be obliged to report on their progress to the Economic and Social Counsel annually.
