Women are about to flood the corporate world in Germany.
Chancellor Angela Merkel’s government adopted a bill on Thursday that will require large listed companies to fill at least 30% of the supervisory board seats with female non-executive directors. The bill will also force thousands of large and mid-size companies to employ more women as managers.
Despite being arguably the most powerful woman in the world, Merkel has so far been unable to convince Germany’s male-dominated business world to voluntarily diversify. Only one-third of the 30 companies in Germany’s DAX stock index would currently meet the 30% quota suggested in the bill. Women’s representation on executive boards is low compared to other European countries like Norway, France and Sweden, according to the Wall Street Journal.
“I am convinced that we will set in motion a cultural change and that this law is a historic milestone for more equality between women…
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