Germany on Friday became the latest and most significant country so far to commit to improving the representation of women on corporate boards, passing a law that requires some of Europe’s biggest companies to give 30 percent of supervisory seats to women beginning next year.
Fewer than 20 percent of the seats on corporate boards in Germany are held by women, while some of the biggest multinational companies in the world are based here, including Volkswagen, BMW and Daimler — the maker of Mercedes-Benz vehicles — as well as Siemens, Deutsche Bank, BASF, Bayer and Merck.
Supporters said the measure has the potential to substantially alter the landscape of corporate governance here and to have repercussions far beyond Germany’s borders.
In passing the law, Germany joined a trend in Europe to accomplish what has not happened organically, or through general pressure: to legislate a much greater role for women in boardrooms.
The measure faced strong resistance from conservatives and from others who argued against imposing a law, despite the failure of a voluntary system that was adopted — under duress — by German businesses in 2001.
Under the new law, some 100 of Germany’s best-known companies must give 30 percent of their supervisory board seats to women starting next year. A further 3,500 companies have a deadline of Sept. 30 to submit plans to increase the share of women in top positions.
Read the article in full here: http://www.nytimes.com/2015/03/07/world/europe/german-law-requires-more-women-on-corporate-boards.html?emc=edit_th_20150307&nl=todaysheadlines&nlid=69125949&_r=0
Should corporate boards have a set gender quota, (30% female is suggested) or should positions of leadership be given to those most aptly skilled for the role, irrespective of gender?
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It is proposed that our country should set a legal gender quota for all corporate boards