Law No. 15.177/2025 was enacted in Brazil on July 23, 2025, amending current legislation to promote greater diversity and gender equity in the composition of the boards of directors of business corporations and state-owned companies.
The new law mandates that at least 30% of full board member seats be held by women. This obligation will be phased in beginning in fiscal year 2026, in accordance with a schedule to be defined by the Executive Branch.
The legislation amends parts of the Brazilian Corporation Law (Law No. 6,404/1976) and the State-Owned Companies Law (Law No. 13,303/2016), establishing the gender quota as a matter of corporate governance and legal compliance.
This change reflects a global movement toward increased female representation in leadership positions and aligns Brazil with international best practices already adopted in other countries.
Who is subject to this new rule:
- State-owned enterprises, mixed-capital companies, their subsidiaries and controlled entities, and other companies in which the government (Federal Union, States, Federal District, or Municipalities) holds the majority of the voting share capital;
- Publicly held companies: adherence to the board seat reservation is optional. However, the law provides that the Executive Branch may create incentives for companies that voluntarily adopt the measure;
Recommendations:
We recommend that all potentially impacted companies take proactive steps to:
- Review the current board composition;
- Evaluate internal diversity and inclusion policies;
- Prepare any necessary contractual or corporate amendments in advance.
We are available to provide further clarification and legal support to ensure full compliance with Law No. 15.177/2025.
Contact us via chat or email info@drummondadvisors.com.
Written by Arthur Manetta, Associate Attorney at Drummond Advisors