Norwegian companies are approaching a crucial year-end deadline to achieve gender balance on their boards. While legislation mandates a maximum of 60% of one gender on boards, progress has been slow. Thousands of companies are still short of the 40% female representation target. With the deadline looming, many are accelerating recruitment efforts. Advocates argue that women on boards bring diverse perspectives and enhance decision-making.
However, some companies express resistance, considering board size reductions to comply with the law. The new rule, implemented gradually, initially applies to the largest companies with revenues exceeding 100 million kroner ($8.8 million). Non-compliance can lead to severe penalties, including potential closure by court order. While non-compliance may result in eventually conforming, the current situation highlights the ongoing challenge of achieving gender equality in Norwegian corporate leadership