More women appointed to supervisory boards of top German companies

Almost one third of supervisory board positions on the 186 largest listed companies in Germany were occupied by women at the end of October, revealing a steady rise, figures published on Wednesday showed.

According to the survey by the Fidar organization, which keeps track of women on the boards, the share rose to 31.8 per cent from 30.9 per cent at the end of June. Last year it stood at 28.1 per cent.

The figures were published on the fifth anniversary of a cabinet decision that initiated a compulsory quota for women.

Since the start of 2016, listed companies from a certain size – in general with more than 2,000 employees – must fill supervisory board positions opening up with women until a minimum of 30 per cent is reached.

A further 4,000 companies are required to set their own targets for women occupying positions on both the supervisory and the management boards.

“The quota for supervisory boards is taking effect,” Family Minister Franziska Giffey said. “Without legislative pressure, we would never have achieved this sharp rise in the share of women on supervisory boards.”

The quota currently applies to 105 companies, where the share of female supervisory board members has reached a new high of 34.9 per cent on average, 13.6 percentage points up since the law was initiated.

A rise has also been seen in the 81 listed companies not subject to the legal quota, where the share has risen 8.7 points to 22.4 per cent.

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