Reding welcomes EU boardroom move

Proposals for new legislation that would force all publicly listed European companies to reserve at least 40 percent of non-exec board seats for women by 2020 have been agreed by the European Commission.

The draft directive, which still needs to be approved by the European Parliament and the Council of Ministers, would allow member states to decide on sanctions for those who fail to reach the quota.

EU Justice Commissioner Viviane Reding said it was a "breakthrough initiative".