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"Needs harsher measures": Germany is the developing country for women in top positions

2019-09-21T09:11:30.271Z

TIME ONLINE | News, backgrounds and debates



Frankfurt / Main (dpa) - Germany's stock market heavyweights lag behind in the occupation of top positions with women in comparison to other industrialized countries. Although the percentage of female managers on the board of directors has recently increased, as revealed by a survey of the charitable Allbright Foundation.

Nevertheless, Germany is "a clear developing country," said Wiebke Ankersen, co-managing director of the foundation, the German Press Agency. German companies have little experience with diversity and inclusive corporate culture. "They can learn a lot from American and Scandinavian companies."

Federal Minister of Women Franziska Giffey (SPD) spoke of sobering facts. Despite the increase in the proportion of women on the boards of directors and supervisory boards, things are progressing slowly. If it stays at the pace, only in the year 2041 a proportion of women of 40 percent in the boardrooms would be reached. "It needs stricter legal measures to accelerate development. To this end, the federal government will soon submit a bill.

According to the information, 27.8 percent of the board members of the 30 companies from the US benchmark index Dow Jones were female as of the reporting date September 1, 2019. In Sweden, the share of women in the top 30 was at 22.7 percent, in the UK it was 22.3 percent and in France 19.8 percent. The 30 German stock market heavyweights in the leading index Dax came to 14.7 percent (previous year: 13.4 percent).

The DAX companies are, however, more female and international than the medium and small listed companies in Germany. According to the figures, 80 percent of the stock market heavyweights now have at least one woman on the board, while the medium-sized companies from the MDax account for 32 percent and companies in the small-cap index SDax only 20 percent. The 160 companies listed in the three stock market indices were evaluated.

Overall, the number of female board members in the 160 companies rose from 56 to 66 compared to the previous year. The proportion of female managers increased from 8 to 9.3 percent. Record breaking many changes would have led to more new women than usual.

However, according to the study authors, the fact that female managers do not make any faster progress is largely due to the fact that they are "hardly represented in the decisive power positions of the companies".

Admittedly, 540 women and 1,172 men were on the supervisory boards of the companies evaluated at the reporting date. This corresponds to a proportion of women of 31.5 percent (previous year: 30.5 percent). But managers are rarely represented in the committees, which prepare the draft resolutions for the supervisory body. In addition, the crucial position, the chairmanship of the Supervisory Board, was filled to 93.8 percent with one man. The Supervisory Board decides on board members.

The stock exchange companies are required by law to set fixed targets for increasing the proportion of women in their executive boards. However, it is possible to specify a target size of zero. According to the study, 58 of the 160 companies currently formulate this goal.

Women are not less qualified than in other countries, but they do not trust them here the leadership, criticized Ankersen. "Politicians should abolish the splitting of spouses, introduce more" father months "into the parental allowance and enforce a exemplary proportion of women in the civil service of 40 percent in management positions», demanded Ankersen and co-managing director Christian Berg.

The German-Swedish Allbright Foundation campaigns for more women and diversity in the leading positions of the economy.

Source: zeit

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