This Client Alert deals with the impact of the German "Act on Equal Participation of Women and Men in Executive Positions in the Private and the Public Sector". The Act was adopted on March 6, 2015 and will come into force in the next few weeks.
The Act introduces a mandatory gender quota of at least 30% for supervisory boards of German companies, which are publicly listed and subject to parity co-determination. In addition, approx. 3,500 German companies which are either listed or subject to any co-determination will be obligated to determine a women's quota for the supervisory board, the management board and first and second tier management levels.
This publication is available in German only.