Latvia registers highest proportion of female top executives in Europe

Riga LatviaLatvia has the highest proportion of females on company boards among European countries that have no special quotas for female representation, according to a study conducted by EY on talented people in the corporate world: “Time for Diversity”.

Latvia is among the most successful countries in Europe in regard to gender equality at the company level. With 29 percent of female top executives, Latvia is ahead of Lithuania and Estonia, where this proportion is 16 percent and 7 percent, respectively.

The highest proportion of female representatives in company boards was registered in Iceland (48 percent), Norway (42 percent), France (30 percent), and Finland (30 percent), however, all these countries have gender quotas.

The average proportion of female top executives in Europe is 18 percent; the lowest proportion was registered in Malta (2 percent), Estonia (7 percent), Cyprus (7 percent), and Turkey (8 percent).

“Thank you for your interest about the situation in Latvia regarding the females’ proportion on the boards of companies. To be precise, Latvia has reached 31.4% (according to the EC data, April 2014) of women in the companies’ boards. There are considerable differences among the EU Member States as regards women representation in boards. Similarly, national cultural and historical backgrounds also differ. In Latvia, there are no special quotas for female representation, but evidence proves that voluntary and even self-regulatory measures are effective in delivering results, which is also Latvia’s case.” Marika Kupce, head of the communication division at Latvia’s Ministry of Welfare.

“The progress in Latvia is an evidence of achievements based on the good will and understanding of what a more balanced representation of women and men on boards brings to companies. The good practice might inspire other EU member states but most of all, it can give the experienced and competent women solid ground to enter this field and contribute to positive changes in the future,” says Virginija Langbakk, director of the European Institute for Gender Equality.

Source: The Baltic Times

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