There’s some big news this month on the gender-inclusion front. On March 6, Germany approved a new quota that will require some of the largest multinational companies in Europe to ensure that women occupy 30 percent of their board seats. Currently, the New York Times reports that women hold less than 20 percent of boardroom seats in Germany, which is home to corporate behemoths including BMW, Volkswagen, Daimler (the maker of Mercedes-Benz), Deutsche Bank, and Siemens.
Germany is far from the first in Europe to legislate boardroom quotas—Norway, Spain, France, Iceland, Italy, and the Netherlands have already done so, with Norway mandating the highest percentage of women on boards at 40 percent back in 2008. But many consider Germany to be the most significant country thus far to make this tangible commitment to improving women’s representation on corporate boards. The Times reported that “the measure has the potential to substantially alter the landscape of corporate governance here and to have repercussions far beyond Germany’s borders.”Continue Reading