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German cabinet approves legislation requiring women on corporate management boards

German Cabinet approves legislation requiring women on corporate management boards Marina Pitofsky © The Hill Getty Images Germany s Cabinet on Wednesday approved legislation requiring some larger companies to ensure that at least one woman serves on their management boards. The bill mandates that companies with over 2,000 employees that are listed on the stock exchange and have boards with more than three members have at least one woman and one man on their boards, according to multiple reports. The legislation requires parliamentary approval before it becomes law. It adds to existing rules requiring leading German companies to ensure that women make up at least 30 percent of their supervisory boards.

Germany to require women on large firms boards | Women News

German listed companies must include women on their executive boards as part of a landmark bill agreed by the country’s coalition government Wednesday after voluntary efforts failed to close a gender gap. Listed companies with four executives or more must appoint at least one woman to their boards, according to a draft law to be voted on by parliament. The law sends “a very strong signal”, Justice Minister Christine Lambrecht told reporters, urging corporations to “take advantage of the opportunity presented by highly qualified women”. “We can show that Germany is on the way to becoming a modern society fit for the future,” Family Affairs Minister Franziska Giffey said.

Germany to require women on large firms boards

German listed companies must include women on their executive boards as part of a landmark bill agreed by the country’s coalition government on Wednesday after voluntary efforts failed to close a gender gap. Listed companies with four executives or more must appoint at least one woman to their boards, according to a draft law to be voted on by parliament.  The law sends “a very strong signal”, Justice Minister Christine Lambrecht told reporters, urging corporations to “take advantage of the opportunity presented by highly qualified women”. “We can show that Germany is on the way to becoming a modern society fit for the future,” Family Affairs Minister Franziska Giffey said.

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