Listed companies with management boards of more than three executives must appoint at least one woman to the C-suite, according to a statement Friday by Germany's ministry for family affairs, senior citizens, women and youth. A final decision on the new measure is expected next week.
Jutta Allmendinger, president of the WZB Berlin Social Science Center, said the decision was"historic." None of Germany's biggest companies are led by women, according to the Allbright Foundation. And it appears the country is going backwards when it comes to gender diversity: The number of women on the management boards of companies listed on the blue-chip DAX 30 index fell to 23 at the start of September from 29 a year earlier.
Over the past few months, women from business, civil society, academia and the arts engaged in a coordinated campaign to push for the legislation, including through social media and the hashtag #jetztreichts and #ichwill, meaning Enough is Enough and I Want.