Connect with us

Business

German Parliament Approves Quota for Female Directors

Published

on

In this June 4, 2014 file photo German Chancellor Angela Merkel and Minister for Family Affairs Manuela Schwesig, from left, attend a cabinet meeting at the chancellery in Berlin, Germany. Germany’s Parliament has approved a quota system that will require leading companies in Europe’s biggest economy to have at least 30 percent women on their supervisory boards starting next year. Lawmakers from Merkel’s governing coalition backed the legislation Friday, March 6, 2015, while opposition lawmakers who argued that it didn’t go far enough abstained. (AP Photo/dpa, Maurizio Gambarini, File)

In this June 4, 2014 file photo German Chancellor Angela Merkel and Minister for Family Affairs Manuela Schwesig, from left, attend a cabinet meeting at the chancellery in Berlin, Germany. Germany’’s Parliament has approved a quota system that will require leading companies in Europe’s biggest economy to have at least 30 percent women on their supervisory boards starting next year. Lawmakers from Merkel’’s governing coalition backed the legislation Friday, March 6, 2015, while opposition lawmakers who argued that it didn’t go far enough abstained. (AP Photo/dpa, Maurizio Gambarini, File)

GEIR MOULSON, Associated Press

BERLIN (AP) — Germany’s Parliament on Friday approved a quota system that will require leading companies in Europe’s biggest economy to have at least 30 percent women on their supervisory boards starting next year.

The quota will apply to the directors of more than 100 listed companies, though not to their management boards. Another 3,500 firms will be required to set targets of their choosing to raise the number of female directors and women in other leadership positions.

“If there are no equal opportunities at the top of companies, there are none in other areas either,” Manuela Schwesig, the minister for women and families, told ZDF television.

Lawmakers from Chancellor Angela Merkel’s governing coalition of conservatives and Social Democrats backed the legislation Friday. Opposition lawmakers who argued that it didn’t go far enough abstained.

“A real quota for women must apply to all companies,” said Caren Lay, a lawmaker with the opposition Left Party.

The new quota won’t apply to public-sector employees, though officials are pledging to increase the number of women in public-sector leadership jobs.

A study by the German Institute for Economic Research found that, last year, women accounted for 18.6 percent of the supervisory board members — the German equivalent of directors — at the country’s biggest 100 companies.

Germany’s biggest companies, the 30 listed in Frankfurt’s benchmark DAX index, were closest to fulfilling the new quota, with 24.7 percent female directors.

The Federation of German Industries criticized the 30 percent quota as a “purely symbolic policy” and complained that the legislation foresees punishment for private companies but not for the public sector.

The new legislation will be applied as vacancies arise, and it is unclear how many posts will be affected in 2016. Starting next year, companies that haven’t met the quota would either have to appoint a woman to fill a supervisory board vacancy, or leave the seat empty.

Schwesig said that is an effective measure because it would affect the balance of power on supervisory boards. In Germany, those boards normally contain equal numbers of employer and employee representatives.

The management boards of the biggest companies contain even fewer women than their supervisory boards. Women accounted for only 4.1 percent of executives at Germany’s biggest 100 companies last year.

Germany follows Norway, Spain and France and others in imposing quota requirements.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Activism

Oakland Post: Week of November 13 – 19, 2024

The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST

Published

on

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024
5 p.m. – 6:30 p.m. PST

Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?

Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.

STREAMED LIVE!
FACEBOOK: facebook.com/PostNewsGroup
YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa

Continue Reading

Activism

Oakland Post: Week of November 6 – 12, 2024

The printed Weekly Edition of the Oakland Post: Week of November 6 – 12, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Trending

Business

German Parliament Approves Quota for Female Directors

Published

on

In this June 4, 2014 file photo German Chancellor Angela Merkel and Minister for Family Affairs Manuela Schwesig, from left, attend a cabinet meeting at the chancellery in Berlin, Germany. Germany’s Parliament has approved a quota system that will require leading companies in Europe’s biggest economy to have at least 30 percent women on their supervisory boards starting next year. Lawmakers from Merkel’s governing coalition backed the legislation Friday, March 6, 2015, while opposition lawmakers who argued that it didn’t go far enough abstained. (AP Photo/dpa, Maurizio Gambarini, File)

In this June 4, 2014 file photo German Chancellor Angela Merkel and Minister for Family Affairs Manuela Schwesig, from left, attend a cabinet meeting at the chancellery in Berlin, Germany. Germany’’s Parliament has approved a quota system that will require leading companies in Europe’s biggest economy to have at least 30 percent women on their supervisory boards starting next year. Lawmakers from Merkel’’s governing coalition backed the legislation Friday, March 6, 2015, while opposition lawmakers who argued that it didn’t go far enough abstained. (AP Photo/dpa, Maurizio Gambarini, File)

GEIR MOULSON, Associated Press

BERLIN (AP) — Germany’s Parliament on Friday approved a quota system that will require leading companies in Europe’s biggest economy to have at least 30 percent women on their supervisory boards starting next year.

The quota will apply to the directors of more than 100 listed companies, though not to their management boards. Another 3,500 firms will be required to set targets of their choosing to raise the number of female directors and women in other leadership positions.

“If there are no equal opportunities at the top of companies, there are none in other areas either,” Manuela Schwesig, the minister for women and families, told ZDF television.

Lawmakers from Chancellor Angela Merkel’s governing coalition of conservatives and Social Democrats backed the legislation Friday. Opposition lawmakers who argued that it didn’t go far enough abstained.

“A real quota for women must apply to all companies,” said Caren Lay, a lawmaker with the opposition Left Party.

The new quota won’t apply to public-sector employees, though officials are pledging to increase the number of women in public-sector leadership jobs.

A study by the German Institute for Economic Research found that, last year, women accounted for 18.6 percent of the supervisory board members — the German equivalent of directors — at the country’s biggest 100 companies.

Germany’s biggest companies, the 30 listed in Frankfurt’s benchmark DAX index, were closest to fulfilling the new quota, with 24.7 percent female directors.

The Federation of German Industries criticized the 30 percent quota as a “purely symbolic policy” and complained that the legislation foresees punishment for private companies but not for the public sector.

The new legislation will be applied as vacancies arise, and it is unclear how many posts will be affected in 2016. Starting next year, companies that haven’t met the quota would either have to appoint a woman to fill a supervisory board vacancy, or leave the seat empty.

Schwesig said that is an effective measure because it would affect the balance of power on supervisory boards. In Germany, those boards normally contain equal numbers of employer and employee representatives.

The management boards of the biggest companies contain even fewer women than their supervisory boards. Women accounted for only 4.1 percent of executives at Germany’s biggest 100 companies last year.

Germany follows Norway, Spain and France and others in imposing quota requirements.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Activism

Oakland Post: Week of November 13 – 19, 2024

The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST

Published

on

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024
5 p.m. – 6:30 p.m. PST

Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?

Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.

STREAMED LIVE!
FACEBOOK: facebook.com/PostNewsGroup
YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa

Continue Reading

Activism

Oakland Post: Week of November 6 – 12, 2024

The printed Weekly Edition of the Oakland Post: Week of November 6 – 12, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.