Better Gender Balance On Supervisory Boards

On 1 January 2018, the Act banning discrimination of women and men on supervisory boards (GFMA-G) entered into force. It is the first act to stipulate a legally binding minimum number of women and of men on supervisory boards in the private sector. The new provisions apply to elections and appointments after 31 December 2017 to the supervisory boards of listed companies and companies (including limited liability companies) of more than 1,000 employees.

Supervisory boards in such enterprises need to be made up of at least 30 % female and 30 % male members, provided that the board consists of at least six members (shareholders' representatives) and the female/male employees make up at least 20 % of the workforce. Any contravention of the new minimum numbers makes such election or appointment null and void.