site.btaBulgaria Notified by EC over Failure to Fully Report on Transposing of Gender Balance Directive

The European Commission (EC) decided to send a letter of formal notice to Bulgaria, Denmark, Ireland, France, Poland and Portugal for only having notified partial transposition of the Directive on improving the gender balance among directors of listed companies and related measures (Directive 2022/2381) to the Commission, the EC reported on Friday.

The Gender Balance on Corporate Boards Directive aims for a more balanced gender representation on the boards of listed companies across all EU Member States. The Directive sets a target of 40% of the underrepresented sex among the non-executive directors of EU large listed companies, and of 33% among all directors.

Member States had until December 28, 2024, to transpose the provisions of the Directive. Bulgaria now has two months to respond, complete the transposition and notify its measures to the Commission. In the absence of a satisfactory response, the Commission may decide to issue a reasoned opinion.