Sumary of German Parliament Backs ‘Milestone’ Gender Quota for Company Boards:
- Germany on Friday moved to ensure that women are represented in the upper echelons of some of Europe largest publicly traded companies, advancing a measure in Parliament that would set a quota for women on management boards..
- Under the proposal approved by the Parliament, public companies in Germany with four or more board members would be required to have one female board member, and government-controlled firms with boards of three or more members would also be required to have one woman..
- “This is a milestone for women in Germany and at the same time offers a great opportunity for both society and companies.”.
- In adopting the proposal, Germany is building on a 2015 law requiring some of Europe largest companies to give 30 percent of supervisory seats to women..
- According to a 2020 survey by the AllBright Foundation, women occupy only 12.8 percent of the seats on management boards of the 30 largest firms in Germany blue-chip DAX index….