Professional Boards Forum

INSPIRATION FROM NORWAY

In 1993 Norwegian corporate boards had 3% women
members. Following controversial and unprecedented
legislation Norway now takes a global lead with over
40% women on boards.

In 2002 Secretary of State for Trade and Industry, Mr Ansgar
Gabrielsen announced legislation to utilise the full talent
pool for corporate boards and include women in the
recruiting processes. Affecting some 600 companies, the
“40% Quota Law” was met with massive opposition from
chairmen, investors and selection committee members
arguing

The state should not interfere with the board
appointments
Women are not interested in board positions
We don’t know where to find qualified women
Women don’t have the experience
Women don’t have the guts and ability to take risk

Photo: Ilja C. Hendel

However, the others argued

Women represent 50% of the talent pool. If you
systematically ignore women you will not get the
best possible board
Gender diversity will add a new dimension and
a broader perspective
Women are not risk-averse – they are risk-aware
Women influence 80% of purchase decisions
across Europe
Companies need the best talent at all levels - to be
an attractive employer your board should reflect your
employee base
An homogenous board represents a risk of tunnel
vision and group think
Gender diversity can bring about business
opportunities for a creative board
Women bring different mind-sets, skills and values
to the board room

Norwegian companies were given a two-year period to
increase the number of women on their boards and avoid
legislation. When nothing happened the law was passed in
2005 and became effective in 2008.

Chairmen struggled to fill the quota, claiming they did not
know qualified women and did not know where to find them.
The response of Elin Hurvenes’ Professional Boards Forum
was practical, effective and immediate - putting company
owners in front of qualified women through a series of
pioneering events.

Supported by major organisations such as Telenor,
Hafslund, Hydro and AIG as well as the Ministry of Trade and
Industry, the events gave the women an instant opportunity
to prove themselves and gave owners an insight into their
skills and capabilities.

___________________________________________________________________________________________________