Germany taxes women in the management of large companies

A measure to try to catch up on the issue. Germany will impose the presence of women on the boards of directors of large listed companies, according to a bill presented on Wednesday January 6 by the government of Europe’s largest economy. According to the text, which has yet to be adopted by MEPs, at least one woman will have to sit on the governing bodies of German companies with more than three directors.

The appointment of women will also be compulsory on the boards of directors of companies where the State is a shareholder and in several public bodies. In total, 73 companies would be affected by this rule change, 32 of which currently have no women on their board of directors, according to the FidAR think tank, which advocates the representation of women at the top of companies.

According to a recent study by the German-Swedish foundation Allbright, women represent only 12.8% of the board members of the 30 companies listed on Dax, the flagship index of the Frankfurt Stock Exchange. For the 30 largest groups in each country, this proportion is 28.6% in the United States, 24.9% in Sweden, 24.5% in Great Britain and 22.2% in France, indicates this study.

“We can show that Germany is on the way to becoming a modern society with a future”, declared to the press the Minister of the Family, social democrat, Franziska Giffey who carried the text with her colleague of Justice. The latter, the social democrat Christine Lambrecht, greeted a “important signal for highly qualified women” . She calls on businesses to “use luck” offered by this quota to increase the feminization of management positions.

The bill, which will have to be voted on before the end of the term of office in September, was supported by Chancellor Angela Merkel but has encountered a lot of resistance within her conservative party (CDU) which governs with the Social Democrats of the SPD. He is also criticized by part of the employers who denounce interference in the governance of companies.

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