Update: New act to improve gender diversity in boards of Dutch companies

On 1 January 2022 an act on gender diversity in boards of Dutch companies entered into force. Female quota provisions apply to supervisory boards and non-executive directors of Dutch companies listed on Euronext Amsterdam. An appointment in violation of the new rules is void, but does not affect the validity of any board decision-making. The new rules do not apply to re-appointments of board members within a period of eight years from their first appointment.

All large Dutch companies (whether listed or not) have to adopt appropriate and ambitious target figures for gender diversity: (i) of the management board, (ii) of the supervisory board (unless the female quota applies), and (iii) at sub-board level. Large companies are defined as NVs and BVs that comply during at least two consecutive financial years, with two-out-of-three of the following: (i) value of assets > 20 million euro, (ii) net-turnover > 40 million euro, (iii) average number of employees > 250.

On 16 May 2022 the related changes to the Decree on information in the management board report (Besluit inhoud bestuursverslag) have been published. They will enter into force on 1 July 2022.

Read our full publication for an overview of the implications and provisions of the new act to improve gender diversity in boards of Dutch companies:

Nederlands – Nieuwe wet moet genderdiversiteit in bestuur, rvc en subtop verbeteren (6-2022)

English – New act to improve gender diversity in boards of Dutch companies (6-2022)