Ireland should legislate for corporate quotas

Published: Tuesday, May 29, 2012

Press Release

The National Women's Council of Ireland today called on the government to legislate for quotas to increase the number of women on corporate Boards, before an EU directive forces us to.

Commenting, at the end of the EU consultation, Orla O'Connor acting CEO of the NWCI, said

'There is clear evidence linking the economic crises to bad decisions made in testosterone-filled rooms. Yet, not one woman has been asked to join the eight men on the Board of the Irish Bank Resolution Corporation [Anglo-Irish Bank] since this government took office.'

She continued,

'The EU recognises the link between women in leadership and company performance. Ireland is lagging behind in this area.'

The EU Commission this week ended a three month public consultation on the issue of quotas for corporate boards. Commissioner Viviane Reding has promised a quotas directive in 2014 if companies do not change their ways.

The EU process comes just days after OECD Heads of State discussed a new report ranking Ireland 26th of 34 countries for levels of women's representation on Boards. This mirrors Ireland's under-representation of women in other areas, including the media and politics. NWCI has welcomed the commitment shown by Ministers Hogan and Lynch, with political quotas legislation currently before the Dáil.

Eóin Murray, who coordinates the NWCI project to increase the participation of women in politics continued,

'By acting quickly Ireland can recruit the best available talent and place these women at the top of corporate decision making structures. '

'The UK government has taken a pro-active approach which has already paid dividends. Ireland must not be left behind in the development of good corporate governance practises.'

ENDS