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ARIR is sharing diversity best practice and trends at the regional Annual Conference of Middle East Investor Relations Association

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In Europe, EU Shareholder Rights Directive will generate more dialogue and cooperation between listed companies and investors, says Daniela Șerban, ARIR President, during a panel on ”Diversity matters: Responses to new challenges” in the presence of more than 300 representatives of stock exchanges and listed companies in the Middle East and North Africa region. The Annual Conference organized by the Middle East Investor Relations Association brought into stage the latest trends in Investor Relations and set the scene for further action in improving transparency and communication.

Even if the EU Shareholder Rights Directive has its main focus on the remuneration policy and shareholders involvement, companies that already put emphasize on diversity, in their efforts to offer equal employment and advancement opportunities regardless of the gender, age, religion or social status are valued by investors. According to Rivel Research studies, investors argue that diversity of the Board improves shares’ performance and is an indicator of good governance of the company.

The Bucharest Stock Exchange Code of Corporate Governance includes as first principle references regarding the diversity of the Board of Directors and its committees: „These must present an appropriate balance in terms of competence, experience, gender diversity, knowledge and independence of the members in order to allow the efficient fulfillment of duties and responsibilities ”. In practice, however, in the declaration of compliance with the principles of the Code, no explanation is required regarding the company’s approach to diversity.

In terms of gender diversity, since 2010 significant progress has been made to increase the presence of women in the Boards of Directors of listed companies from the European Union, and currently almost one third are women, according to European Commission data. In the same period, in Romania there was the largest regression of this indicator, over 10% up to a presence of only 11% of women in the Boards of Directors of the largest companies listed on the stock exchange.
More details at meira.me/conference

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