According to the Gender Equality Strategy for 2021-2030 approved by the Cabinet in 2021, the Czech Republic has long lagged behind in promoting equal representation. Two years ago, women made up 21 percent of the management of large companies in the Czech Republic, which would be affected by the law, while it was more than 32 percent in EU countries. The proposal was submitted by the Department for European Affairs.
Proposed proposalSome providers need to change laws to improve the balanced representation of women and men in their management bodies, which only affects a few companies.
The condition is more than 250 employees and an annual turnover of 50 million euros or assets of more than 43 million euros.
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The representation of women in the supervisory board of these companies must be at least 40 percent or their representation must reach at least one third of the board of directors of the supervisory board. The same condition applies to men if they find themselves in the minority in the management of such a company.
At the same time, organizations should follow transparent, impartial and merit-based criteria while selecting suitable candidates. If the company doesn't meet the criteria, the “candidate of the lower sex” should be preferred out of two comparable candidates, according to the proposal.
“According to Czech National Bank data based on issuers' annual reports, the proposed amendment should affect the following companies when it comes into effect: ČEZ, as, Komerční banka, as, Moneta Money Bank, as, Philip Morris CR, as, and Kofola Československo, as,” it said in the explanatory statement. Says, though this is only an illustrative list, it may change with the entry of other companies to the stock market.
According to the proposal, the standard could take effect from mid-2026.
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