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October 2006
Within the next year, the 510 Norwegian companies listed on the Oslo Stock Exchange (OSE) must have 40% of their respective board seats occupied by women, or they will be booted off the OSE.
For now, the law passed in 2002 only applies to publicly traded companies. But the government is considering extending the law’s reach to cover family-owned companies as well.
Since the Norwegian government first issued its mandate, things have improved. The number of companies in compliance has risen from 17.5% to 29.6%. Still, nearly 33% of public companies don’t have a single woman board member. And as of July 1, only 151 of 510 firms on the OSE met the 40% representation rule. Out of 562 women who are board members in the country, only 11 are chairmen of the board, and 15 are deputy chairmen.
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