A new law will make it mandatory for corporate boards to be composed of at least 40% women.

Spain’s Parliament passed the ‘gender parity law’ on Tuesday, which will see a similar quota set for the cabinet.

It was voted through last night on the eve of International Women’s Day today and will be ratified by congress next month.

All publicly-traded companies, or those with over 250 employees, must comply by July next year.

Although many firms on the Ibex-35 already meet the quota, several fall short. 

The law is in line with a recent EU directive, which demands 40% by 2026. 

That directive doesn’t require parity in top management or in political positions.


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