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In the coalition agreement, the Union and the SPD agreed to improvements for women on corporate boards. After a long struggle, now there is a compromise. The Minister of Justice speaks of a “great success”.
The grand coalition has basically agreed to a binding quota for women on executive boards. According to the Minister of Justice, Christine Lambrecht, after the working group created by the coalition committee reached an agreement on this issue, a member of the executive boards of listed and jointly determined companies with more than three members must be a woman in the future.
A supervisory council quota of at least 30 percent and a minimum participation in executive councils were agreed upon for companies with a majority stake from the federal government. A minimum participation will also be introduced for public law companies, such as health insurance companies and pension and accident insurance institutions, as well as the Federal Employment Agency. “This is a great success for women in Germany and at the same time offers a great opportunity for society and for the companies themselves,” Lambrecht said.
Differences in the coalition
Coalition leaders should finally decide on the compromise next week. Subsequently, departmental coordination and the participation of states and federal associations will begin so that the cabinet’s decision can be made promptly, Lambrecht said.
The quota is a key point in what is known as the Management Positions Act: for the first time there would be binding requirements for more women on executive boards. In the coalition agreement, the Union and the SPD agreed to improve the law on women in leadership positions. At the beginning of the year, the Federal Minister for Women, Franziska Giffey and Lambrecht, presented the corresponding bill. After the differences, the heads of the coalition decided to create a working group in the summer.
According to a report recently released on behalf of the federal government, voluntary self-specifications had little effect on the quota of women on executive boards. On behalf of the Ministry of Family Affairs and the Ministry of Justice, the effects of the 2015 law on women in management positions were examined. Consequently, the proportion of women on the executive boards of the companies in question is currently 7.6 per cent.
“Historical advance”
Giffey now said: “Penetration creates buy-in; this phrase has come true today. The board fee will come.” He spoke of a “historic breakthrough.” “We exploit the full potential of our country so that the best can be more successful in mixed teams. Because nothing happens voluntarily and we need guidelines to move forward, “said the SPD politician.
“Today’s agreement is a milestone for more women in leadership positions, in all areas,” said Deputy Leader of the Union’s parliamentary group, Nadine Schön. “We no longer accept the fact that there are hardly any women on the boards of health and pension insurance companies. A particularly large number of women work in the social field.” The engagement is an important step towards greater diversity at the management levels of German companies.
And State Minister Annette Widmann-Mauz said: “On the way to more women at the top, the federal government is setting a good example: in the public service, in companies with a majority federal participation and insurance companies of Health”. Graduated legal requirements for executive boards and supervisory boards would take into account different circumstances in public and private companies. Mixed teams are not just a recipe for success in times of crisis.
With information from Martin Schmidt, ARD capital studio
