The boards of directors of German companies will be required, starting next year, to have a share of 30% for women, according to a law that the Executive classified as “historic”.
“We must be parsimonious to use the wor d ‘historic’, but in this case I think we can apply the word,” said the Minister of Justice of Germany, which together with the minister of Family led the Friday debate in Parliament, where a law that obliges the company boards to have at least 30% of women was approved.
Currently, female representation does not reach 20% in companies worldwide known as Volkswagen, MBW, Siemens, Deutsche Bank, Bayer and Merck.
Germany thus becomes the latest country to introduce legislation that aims to change the landscape of female representation in large empresaril decision centers, anticipating that may have wider repercussions that the borders of the country, traditionally referred to as the engine of the European economy.
Norway was the first country in Europe to legislate on female 40% quota on the boards, followed by Spain, France and Iceland, while Italy has a minimum representation of a third, Belgium 30% and the Netherlands has an indicative target of 30%.
According to a study by the German Institute Economic Research, last year women accounted for 18.6% of the boards of the hundred largest German companies.
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