More than two decades after the first bold gender quota law, women remain underrepresented in decision-making roles across Europe. This study uses comprehensive data from the European Institute for Gender Equality (EIGE) to examine the evolution of gender equality in the two highest decision‐making bodies of companies between 2012 and 2024. We analyzed the interplay between cultural norms and legally binding gender quotas by comparing Nordic and various European contexts. Our central research question asks: How do cultural attitudes toward gender equality and the implementation of mandatory quotas influence women’s representation in decision-making bodies, and what are the implications for executive versus non-executive roles they held on boards? Our findings reveal that early adopters of mandatory quotas, supported by strong cultural norms, exhibit a marked acceleration in women’s representation on boards. This suggests that prompt, national regulatory intervention acts as an effective catalyst for long-term structural change in settings where cultural support is fragile. However, while mandatory quotas can effectively boost the quantitative presence of women in decision-making bodies, the qualitative impact of gender parity in influential executive roles may require additional structural and cultural changes by a formalized institutional will, beyond simply increasing the number of women on boards.