Germany approves legal quotas for women on company boards

Starting in 2016, German companies that include employee representation on supervisory boards will be required to allot 30 percent of their seats to women, Reuters reports.

The vote by Germany's lower house of parliament on Friday was a "historic step" for equal rights, Family Affairs Minister Manuela Schwesig said. While Chancellor Angela Merkel has led Germany since 2005, there is not one female chief executive among Germany's 30 largest firms, and a recent survey found that 59 percent of mid-sized German companies do not include even one woman in a position of leadership.

More than 100 firms will be affected by the new quotas, and an additional 3,500 medium-sized businesses will be required to create quotas for executive and supervisory board seats.

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