In this scientific research and discussion paper, four hypotheses will be introduced: 1. Women are under-represented in positions of economic decision-making (boards), 2. Current legislation is unsuitable and non-existing for the regulation of this problem, 3. Directive on improving the gender balance among non-executive directors of companies listed on stock exchanges and related measures is highly needed and 4. Gender diversity should be increased because boards need women. Firstly, author will tackle with the general problem of board underrepresentation on the level of EU and Member States. This part is deeply connected with the research regarding the representation of women on boards in Member States, from where data was used in order to compare and contrast the representation of women in all of the MS. Author believes it is important to show the diversity between the MS which is not connected to the type of board itself, but to the legislative measures applied. Secondly, as the current legislation is unsuitable and non-existing for the regulation of underrepresentation of women on boards, author will provide an overview of the legislation dealing with gender equality. Consequently, it is to conclude that there is no legislation to regulate the gender equality within the economic decision-making. Thus, Member States have no legislation to implement and the problem of gender equality is left on numerous national provisions. The research proved that the MS with the legislation measures had the best result in achieving gender equal boards, as shown in the numbers. Thirdly, Directive on improving the gender balance among non-executive directors of companies listed on stock exchanges and related measures is highly needed to provide a proper and unique binding regulation for this matter. Author analyses the Directive and the path of its making alongside with its purpose and targets. By comparing and contrasting, Directive is reviewed critically and from an objective point of view. Finally, author speaks of the need of women on boards and increasing gender diversity. Within her scientific research, author provides numerous evidence and other studies to prove that women truly are a valuable asset in every board. Furthermore, author compares all the different approaches that can be taken to stop the underrepresentation of women on boards, with a special focus on the solution provided by the European Commission. In the end, author concludes this study with providing guidance for achieving gender balance on boards, based on her own independent research she carried out.