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US News Study: Quota of women on executive boards makes a big difference

11:15  28 november  2020
11:15  28 november  2020 Source:   pressfrom.com

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Almost half of the listed companies (44 percent) for which a quota of women on executive boards is to apply in future have not yet had a female manager on the executive committee. This emerges from an evaluation by the organization Fidar (women on the supervisory boards), which the dpa has received.

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These include well-known companies such as the sporting goods manufacturer Adidas, the pharmaceutical and agrochemical group Bayer and the energy giant Eon (as of October 31). The black-red coalition had basically agreed that the board members of listed companies with equal co-determination with more than three members must include a woman at the latest after a new appointment. According to the study, this affects 73 listed corporations, 32 of which do not have any female executives on the top floor.

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“Nothing happens voluntarily. With the minimum participation for board members, we put an end to women-free boardrooms in large companies, ”said Federal Minister for Women Franziska Giffey (SPD). According to the study, the proportion of women managers on the management board of a total of 190 listed companies is 11.8 percent. The groups were evaluated in the Dax, MDax and SDax stock market indices as well as the 30 fully codeterminated companies currently listed on the regulated market.

There is already a quota for women on the supervisory board: According to the law that has been in force since May 2015, companies of a certain size - usually more than 2000 employees - must fill vacant positions on the supervisory body with women until at least 30 percent is reached . For around 4,000 other companies, the law provides for themselves to set targets for the proportion of women on the executive board and other management bodies. Often, however, the “target value zero” was set there.

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“Only clear legal requirements with sanctions lead to more equality, at least in terms of numbers,” said Fidar President Monika Schulz-Strelow. "The supervisory boards had more than five years to set an example of the seriousness of their efforts for more equal participation at management levels by implementing individually set targets." This chance was wasted.

According to the information, the proportion of women in the 190 corporations examined rose slightly to 32.7 percent of the last time. That is an increase of 0.5 percentage points compared to the spring. In the 107 companies currently subject to the quota, the proportion of women managers on the supervisory board reached a high of 35.4 percent. The 83 companies not subject to the quota only came to 24.4 percent. The numbers clearly show the difference the binding women's quota makes, said Schulz-Strelow.

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