Germany plans to revise laws that would allow more women to hold executive positions at large corporations. By last Wednesday The German Cabinet passed a bill requiring publicly listed companies to And having a board of directors for more than 3 people, there must be at least 1 woman and 1 man in management position.
A representative for the German Justice Department said the rule would apply to 70 companies nationwide. Which employs more than 2,000 people, of which 30 companies do not have women serving as a board of directors
The draft law also includes provisions on Developing the effectiveness of the 2015 law that requires the board at the management level of the company. There must be at least 30% of women in this new body. Will extend that requirement to a state regulated company Or have a major shareholder state, such as Germany's railway company Deutsche Bahn.
Francisca Giffey, the Minister of Families for the Elderly, Women and Youth, said the law would be a "cornerstone" that indicates that women are no longer excluded from the board of directors at large companies. Together, Germany will be better prepared for the future.
The bill will be passed on to the Bundesrath or the German parliament.
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