More women will move up in corporate management

( – According to the so-called Second Management Positions Act, more women than before are to work in top positions in large companies. This is a milestone, said Minister for Women Christine Lambrecht (SPD). Highly qualified women could now move up to top management more easily.

Companies that are listed on the stock exchange and companies with equal co-determination with over 2,000 employees and more than three board members will have to send a woman to the board. In the future, smaller companies will have to justify why they are planning a board of directors without the participation of women. Otherwise, fines are due.

In companies with a majority shareholding by the Federal Government, a woman must also be included if the board of directors has more than two members. Since the First Management Positions Act was passed in 2015, the proportion of women in the 106 companies which are currently affected has quadrupled.

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