Status: 08/12/2021 1:26 p.m.
In large companies, even more women should work in top positions in the future. The Second Management Positions Act came into force today. Minister for Women Lambrecht spoke of a “milestone”.
For large companies, new regulations for filling top positions with women have come into force today. The so-called Second Management Positions Act was passed before the summer break. Listed companies with equal co-determination with more than 2000 employees and more than three board members must in future ensure that at least one woman is represented on the board when filling the top management level.
Violations can result in fines
The rules are also changing for other listed or co-determined companies that do not fall below the minimum requirement for board members: You now have to justify if you plan for their board without women. If this does not happen, there is a risk of fines.
For companies with a majority stake by the federal government, a minimum stake of one woman and one man each applies in future, regardless of a possible listing on the stock exchange. The quota of at least 30 percent women is also transferred to the supervisory boards of these companies.
Lambrecht: Women with role models
Federal Minister for Women Christine Lambrecht (SPD) called the law a “milestone for women in Germany”. More highly qualified women could now move up to top management. These enrich the economy and also serve as role models, said Lambrecht.
A first version of the Management Positions Act has been in force since 2015. Since then, according to the Ministry of Justice, the proportion of women on supervisory boards in the 106 companies currently affected by the quota has increased from 25 to 35.9 percent. Accordingly, 14.1 percent of the board members are women – the figure has quadrupled.
The federal government is lagging behind
However, the federal government itself has not yet achieved its goals: According to the Ministry of Justice, the proportion of women in management positions in the public service is 35 percent, and in almost all federal departments there are fewer women than men in management positions.