Exasperated Merkel backs widening boardroom quota for women

BERLIN (Reuters) - Chancellor Angela Merkel expressed her support on Wednesday for setting a quota for women on the executive boards of Germany's top listed companies, building on a 30% quota for women on supervisory boards introduced in 2015. Merkel, a Christian Democrat who had long resisted quotas, said she is talking to Family Minister Franziska Giffey, who proposed legislation on the issue in February, but saw the topic sidelined during the coronavirus lockdown

Reuters July 02, 2020 00:12:41 IST
Exasperated Merkel backs widening boardroom quota for women

Exasperated Merkel backs widening boardroom quota for women

BERLIN (Reuters) - Chancellor Angela Merkel expressed her support on Wednesday for setting a quota for women on the executive boards of Germany's top listed companies, building on a 30% quota for women on supervisory boards introduced in 2015.

Merkel, a Christian Democrat who had long resisted quotas, said she is talking to Family Minister Franziska Giffey, who proposed legislation on the issue in February, but saw the topic sidelined during the coronavirus lockdown.

"It is absolutely inadequate that there are still listed companies with not a single woman sitting on the board," Merkel told parliament, noting that companies had found enough female candidates for their supervisory boards to meet the quota.

Merkel said it could take time for her coalition government to reach an agreement on the subject, but suggested she hoped it would happen before next year's parliamentary election, when she has said she will not run for another term.

While women made up 28% of the supervisory boards of Germany's top companies in 2018, they only accounted for 10% of executive positions.

Jennifer Morgan became the first woman CEO of a German blue-chip company last year, as co-leader of business software group SAP, but she stepped down in April, leaving Christian Klein as the company's sole CEO.

Giffey, from Merkel's Social Democrat coalition partners, has proposed that executive boards of about 70 listed companies should include at least one woman if the top team is made up of three people or more.

Giffey also wants to extend the 30% quota for supervisory boards to around 600 private companies from about 100 now, hoping that the new rule should take effect next May.

(Reporting by Emma Thomasson;Editing by Elaine Hardcastle)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Israeli army says one of its drones crashed inside Lebanon
World

Israeli army says one of its drones crashed inside Lebanon

JERUSALEM (Reuters) - An Israeli drone crashed inside Lebanon during operational activity along the border, an Israeli military spokeswoman said.

Putin, Zelenskiy discuss conflict in eastern Ukraine on eve of ceasefire
World

Putin, Zelenskiy discuss conflict in eastern Ukraine on eve of ceasefire

MOSCOW/KYIV (Reuters) - Russian President Vladimir Putin and Ukraine's Volodymyr Zelenskiy discussed the conflict in eastern Ukraine and both expressed support for a ceasefire that starts on July 27, their offices said on Sunday. Ukrainian, Russian and OSCE negotiators agreed on a full ceasefire between government forces and pro-Russian separatists in eastern Ukraine from late July, putting on hold the military conflict that claimed more than 13,000 lives since 2014. "The leaders agreed on the need for an urgent implementation of extra measures to support the ceasefire regime in Donbass," Zelenskiy's office said, referring to eastern Ukraine

Brazil's Bolsonaro asks top court to unblock supporters' profiles amid fake news probe
World

Brazil's Bolsonaro asks top court to unblock supporters' profiles amid fake news probe

By Lisandra Paraguassu BRASILIA (Reuters) - Brazilian President Jair Bolsonaro has challenged a Supreme Court order that blocked several of his supporters' profiles on social networks amid an ongoing fake news investigation, the right-wing president said using his own social media accounts on Saturday evening.