The German government announced they will focus on a new legislation on the introduction of quotas for women on supervisory boards of publicly traded companies to come into force in Germany since 2016. Since 2015, companies shoul disclose their targets for increasing the number of women on boards. Since 2016, the 30% quota should apply. The information was published by the HR Magazine website.
German Social Democrats originally pushed for 40% representation of women on supervisory boards since 2021. On the contrary, conservatives led by Chancellor Angela Merkel have refused any fixed quotas for a long time. Finally, they agreed on 30% since 2016.
Current situation: 17% of women on supervisory boards
According to Manuela Schwesig, leader of the social-democratic negotiating team quoted by HR Magazine, the introduction of the quotas is an important signal for improving women's career prospects and greater equality in the labor market.
Women in Germany currently hold 17.4% of the seats on the supervisory boards of the top 160 companies listed on the stock exchange. Management board positions are occupied only by 6.1% of women.
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