Sweden coming closer to gender-balance mandate, finance minister says

June 24, 2013 at 11:12 AM

STOCKHOLM, Sweden, June 24 (UPI) -- Sweden's finance minister said the likelihood of the country having a law that mandates gender balance in corporate boardrooms is increasing.

"It is obvious that this is being solved at a very, very slow pace," Anders Borg said. "I think that the arguments against the legislation are gradually eroding and that the reasons for considering legislation have strengthened."

Tidningarnas Telegrambyra reported Monday Borg's remarks in an interview were made as GMI Ratings 2012 confirmed the percentage of women on company boards has dropped recently to 26.4 percent, a level obtained three years ago.

In neighboring Norway, the percentage of women on corporate boards is 36.3 percent.

Since 2005 , Norway has had a law that requires company boards include a minimum of 40 percent of each gender.

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