Portugal approves law to have 33.3 percent of women in public, listed companies

Portugal approved a new law on Thursday to help create gender balance at public sector and listed companies.

The new law, to be enforced on January 1, 2018, will see at least 33.3 percent of women comprising in public and listed companies in Portugal by 2020.

Assistant Minister Eduardo Cabrita said at a press conference Thursday at the end of a council of ministers meeting that Portugal was joining other European countries like Germany, France and Italy which were adopting new legislation for gender balance.

"It will comply with the objective of the government's program which has as an objective a balanced representation of both genders in the management bodies of public sector companies and listed companies," he said.

According to the European Commission, in April 2016 women made up just 23.3 percent of board members of the largest publicly listed companies registered in EU countries. Endit