Certainly. There is no doubt that in countries that have imposed quotas for women on the board, companies somehow find women and they succeed in achieving those quotas. France imposed 40%. They have 40% women on the board. Several countries are all along the same vein.
If you impose a quota you will absolutely achieve that quota within the time frame contemplated by the quota. The problems with quotas are that they don't convey the right message. They do, as some of the other participants alluded to today, lead to a perception that somebody is there because of the quota and not because they are bringing the skills and talents that are needed to help the board with the board's role and responsibilities.
I am generally very much opposed to quotas, but I did flag in that publication that we might be able to accelerate change if we did impose a quota for companies that had boards of at least four directors and required those companies to have at least one woman on the board. We've noted in our report that the biggest change year over year was the number of all-male boards declining dramatically—by 9%—down to, I think, 36% of outstanding boards.