As listed companies prepare for the EU Women on Boards Directive deadline of 30 June, 2026, international business mentor and C-suite strategist Nadia Pace is calling attention to governance gaps facing Malta’s business community.
The directive, implemented through MFSA Capital Markets Rules in December 2024, requires 40% of non-executive director positions or 33% of all director positions to be held by women.
For Malta’s listed companies, this presents both a compliance requirement and an opportunity to strengthen board effectiveness.
According to the Malta Chamber’s 2024 Family Business Survey, only 67% of local businesses have functioning boards – down from 83% in 2022. Just 31% have independent non-executive directors, while only 36% have a written succession plan and 32% have a written strategic plan.
“The June 2026 is an opportunity for Malta’s listed companies to think seriously about board composition and effectiveness,” says Pace. “The best boards bring together complementary skills and perspectives. That’s what drives better decision-making.”
Board effectiveness is also a global concern, with only 35% of executives rating their board’s performance as excellent or good, while 93% want at least one director replaced – the highest level ever recorded in PwC’s annual survey.
Nadia Pace believes non-executive directors (NED) play a critical role in addressing these gaps – offering independent oversight, challenging strategic assumptions, and bringing sector expertise that executive teams may lack.
For listed companies facing the 2026 deadline, finding directors with the right mix of governance experience and industry knowledge will be key.
“A good NED isn’t there to rubber-stamp decisions,” says Pace. “They’re there to ask the questions that don’t get asked internally, and to bring experience from other sectors and markets that can open up new thinking.”
An NED on several boards, Pace also mentors CEOs and founders across sectors including HORECA, aviation and pharmaceuticals. Her approach prioritises trust and long-term relationships over transactional engagements.
“It is about having the right conversations at the right level,” adds Pace. “Malta has a strong entrepreneurial culture, but as businesses mature and list, they need structures that support long-term growth.”
Nadia Pace can be contacted here.
