- Thread starter
- Staff
- #1
Dadparvar
Staff member
- Nov 11, 2016
- 10,717
- 0
- 6
Germany’s Federal Cabinet approved Wednesday a draft law that would see a quota introduced for the number of women on the executive boards of Germany’s largest companies.
The law would require all stock exchange-listed companies with an executive board of three or more members to have at least one woman on that board. The new requirement would apply to over 70 companies, 31 of which currently have no women on their management boards.
The law, drafted jointly by the Federal Ministry of Justice and Federal Ministry for Family Affairs, Senior Citizens, Women, and Youth aims to amend and supplement Germany’s existing law on the issue, the Act on Equal Participation of Women and Men regarding Leadership Positions within the Sectors of Private Economy and Public Service. That 2015 law introduced a requirement that supervisory boards be at least 30 percent female and is reported to have “led to a tangible increase in the average percentage of seats of supervisory boards held by women.” However, the proportion of women on executive boards has remained low.
Federal Minister for Family Affairs, Senior Citizens, Women and Youth Franziska Giffey said that the new law would be “a milestone for women” and would put an end to women-free boardrooms in Germany’s largest companies. She also stated that this goal was in the interests of a future-oriented and modern society.
The draft law must now be passed by the Bundestag, Germany’s parliament.
The post Germany drafts law introducing quota for women on executive boards appeared first on JURIST - News - Legal News & Commentary.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.
The law would require all stock exchange-listed companies with an executive board of three or more members to have at least one woman on that board. The new requirement would apply to over 70 companies, 31 of which currently have no women on their management boards.
The law, drafted jointly by the Federal Ministry of Justice and Federal Ministry for Family Affairs, Senior Citizens, Women, and Youth aims to amend and supplement Germany’s existing law on the issue, the Act on Equal Participation of Women and Men regarding Leadership Positions within the Sectors of Private Economy and Public Service. That 2015 law introduced a requirement that supervisory boards be at least 30 percent female and is reported to have “led to a tangible increase in the average percentage of seats of supervisory boards held by women.” However, the proportion of women on executive boards has remained low.
Federal Minister for Family Affairs, Senior Citizens, Women and Youth Franziska Giffey said that the new law would be “a milestone for women” and would put an end to women-free boardrooms in Germany’s largest companies. She also stated that this goal was in the interests of a future-oriented and modern society.
The draft law must now be passed by the Bundestag, Germany’s parliament.
The post Germany drafts law introducing quota for women on executive boards appeared first on JURIST - News - Legal News & Commentary.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.