A new law will make it mandatory for corporate boards to be composed of at least 40% women.
Spain’s Parliament passed the ‘gender parity law’ on Tuesday, which will see a similar quota set for the cabinet.
It was voted through last night on the eve of International Women’s Day today and will be ratified by congress next month.
All publicly-traded companies, or those with over 250 employees, must comply by July next year.
Although many firms on the Ibex-35 already meet the quota, several fall short.
The law is in line with a recent EU directive, which demands 40% by 2026.
That directive doesn’t require parity in top management or in political positions.