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The proportion of women in the upper echelons of the heavyweights of the German stock market has fallen for the first time in years. As of Sept. 1, 2020, there were only 23 female managers in Dax’s 30 companies on the board, according to a study by the nonprofit Allbright Foundation. A year ago I was 29. The proportion of female executives on the Executive Board fell from 14.7 to 12.8 percent.
“Whatever drives supervisory boards to rely more and more on men on executive boards during the crisis, it’s a shortsighted reflection that shows how little diversity of perspectives is anchored in German corporate directors,” he criticized. Wiebke Ankersen, Co-Managing Director of the Allbright Foundation.
Ultimately, the urgently needed modernization push at the top of the company, which has long been in full swing abroad, will be blocked, Ankersen continued. The development in top management of German companies does not fit the self-image of a progressive Western industrial country.
In an international comparison, the heavyweights of the German stock market have fallen further according to the study:
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In the United States, on the other hand, the proportion of women on the top floor rose from 30 stock market heavyweights to 28.6 percent.
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in Sweden at 24.9 percent,
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in Great Britain at 24.5 per cent,
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in France at 22.2 percent
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and in Poland at 15.6 percent.
The increases ranged from 0.8% (USA) to 2.6% (Poland).
“Only if women and men take responsibility together can we succeed in these difficult times,” wrote EU Commission President Ursula von der Leyen in a closing speech to the survey. The figures for German companies contrast with those of other European countries.
According to the study, there were eleven DAX companies at the date of the report without a single executive on the board. A year earlier there were only six companies. In all 30 DAX companies, the proportion of women on the executive board is less than 30 percent.
In just four companies, several female managers sit on the top floor. These include Allianz, Daimler, Deutsche Telekom, and Fresenius Medical Care. In contrast, 97 percent of large American companies and 87 percent of major French corporations have at least two women on their boards.
The German-Swedish Allbright Foundation advocates for more women and diversity in management positions in companies.
