More women on German boards
01:08
Germany, which is exceptionally masculine in the economic space, is tightening the quotas of women in managerial positions after years of debate, Berlin decided yesterday. The reform includes a new quota for women on boards and an obligation to justify and report on a flexible quota of women where companies must set targets for increasing the number of women in management positions.
"We are making sure that in the future there are no more female-free boards in the largest German companies. We've seen over the years: very little has been done voluntarily and the feminization rate is increasing very slowly," German Family Minister Franziska Giffey, said. Federal Minister of Justice Christine Lambrecht stressed that the new law would have "a positive effect and role as a model in a given company, but also generally in the promotion of young women".
"The contingent is coming – the boards of women-free companies are disappearing, " Finance minister and SPD's candidate for chancellor Olaf Scholz said.
From now on, on boards with more than three people, the proportion of women must be at least 30 percent. Research shows that only 10-13 percent of board positions are filled by women now.
