European & International News

Germany - Top firms pledge to bring more women into their boardrooms

[Brussels, 25 October 2011] Last week, Germany’s biggest 30 firms signed a pledge to increase the number of women in top management positions, with targets varying from 12% by 2014 to 35% by 2018. The EWL has long been calling on companies to implement strong measures to redress an inbalance where in the top 300 EU publicly traded companies, less than 12% of board members are women. In Germany, the figure is shockingly low at only 2.2%. In August this year, the EWL issued a Statement on this issue. EU Commissioner Viviane Reding in March 2011 launched a European pledge for private companies with a deadline of March 2012. Should progress prove too slow, the European Commission is considering legislative measures. The EWL calls on the German firms to sign the European pledge. Read below an Associated Press article on the developments in Germany.

GERMANY - TOP FIRMS PLEDGE TO INCREASE WOMEN EXECUTIVES

By MELISSA EDDY - Associated Press | AP – October 17, 2011

BERLIN (AP) — Germany’s 30 top public companies pledged Monday to increase the number of women in top-level management positions over the next five years, as the nation struggles to combat a shortage of qualified personnel by attracting more women to the workplace.
The 30 companies — which are traded on the leading DAX index of blue-chip stocks — each presented individual targets, which ranged from 35 percent by 2018 at Deutsche Bank to 12 percent women in leadership positions by Man AG by the end of 2014.

The pledges come six months after Chancellor Angela Merkel’s government suggested that Germany lags far behind other industrialized nations in promoting women to its highest business positions — a problem the country does not have on the political side.

Yet the government remains divided on the key issue of whether gender equality can or should be legislated.

Labor Minister Ursula von der Leyen welcomed the companies’ efforts, but criticized them for falling short of what is needed to convince highly qualified women that they can have a career in Germany as rewarding as they could find abroad.

"The fact is that in the year 2011, we have 15 percent women represented on supervisory boards, and 3.7 percent in the executive boards," said von der Leyen. "That is not acceptable for an economy that competes on the global workplace such as Germany. We’ve got to improve."

Germany has a female chancellor and five other women in Merkel’s 15-member Cabinet. But it ranks alongside India in the number of women in boardrooms, with only 2.2 percent, one of the lowest figures among developed and developing nations.

Sweden leads with women holding 17 percent of its board seats, while the figure is 14 percent in the United States, according to the German Economic Institute.

Norway passed a law in 2003 requiring companies to increase the number of women in all leadership positions, top-level management and board seats. Last year women held 39 percent of all leadership positions there.

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