Inspiration from Norway
In 1993 Norwegian corporate boards had 3% women members. By September 2008 the number had risen to 43% - the highest in any country in the world. This is how it was done:

In 2002 Secretary of State for Trade and Industry, Mr Ansgar Gabrielsen, proposed legislation requiring Norwegian companies to have 40 % women on their corporate boards or face closure or delisting from the Oslo Stock Exchange.
Affecting some 600 companies, these tough measures were met with massive opposition from chairmen, investors and selection committee members who argued that: 

  • The state should not interfere with the owners’ right to appoint the best possible board
     
  • Women are not interested in board positions
     
  • Women must become company owners before they can be board members
     
  • 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


However, others argued in favour:
 

  • Women represent 50 % of the talent pool – if you want the best possible board then systematically ignoring this talent will not give you what you need
     
  • Women are not risk-averse, they are more more risk-aware
     
  • Women influence 80% of purchase decisions
     
  • Companies need the best talent at all levels - to be an attractive employer it does not look good if you don’t promote women to board level
     
  • 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 mindsets, skills and values to the board room


Companies were given a two year period significantly to increase the number of women on their boards and hence avoid legislation. When nothing happened the law was passed in 2005 to become effective at the end of 2007.

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.

The Forum provided greater exposure, profile and confidence for outstandingly well-qualified women and brought them to the notice of company owners. Chairmen, board directors and selection committee members of Statoil, DnBNOR Bank, Hydro, Telenor, Norske Skog, Orkla, Hafslund, Nordea and Verdane Capital as well as representatives from smaller and medium size companies have participated.

The Professional Boards Forum has been directly involved in the appointment of approximately 200 candidates to date.