The Exchange amends the provisions of the Best Practice for Warsaw Stock Exchange Listed Companies

The Exchange amends the provisions of the Best Practice for Warsaw Stock Exchange Listed Companies

21/10/2011

  • The WSE Supervisory Board amended the provisions of the “Best Practice for WSE Listed Companies” on 19 October 2011
  • Pursuant to the amendment, listed companies should publish on their websites information about the participation of women and men in the Management Board and the Supervisory Board in the last two years

The Supervisory Board of the Warsaw Stock Exchange amended the provisions of the “Best Practice for WSE Listed Companies” on 19 October 2011. The amendment adds to the list of information which should be published on the website of a listed company information about the participation of women and men respectively in the Management Board and in the Supervisory Board in the last two years. The company should publish such information on its website in the fourth quarter of each calendar year.

The amendment adopted by the Exchange Supervisory Board is an elaboration and continuation of Rule I.9 of the Best Practice, which came into force as of 1 July 2010. At that time, the Exchange for the first time raised the currently broadly debated (also in European Union) issue of the presence of women on the authorities of companies, especially in the context of the need to ensure diversity of the composition of the authorities and elimination of groupthink, which has an adverse impact on the quality of work of the authorities.

The new provision of the “Best Practice” will help to identify the existing trends in this area among listed companies and, within the time horizon of the coming years, the evolution in this field.

The amendment of the “Best Practice for WSE Listed Companies” will come into force on 1 January 2012 together with the amendments approved by Resolution No. 15/1282/2011 of the Exchange Supervisory Board adopted at the meeting on 31 August 2011.