Germany's foreign minister says Berlin will fight a European Union proposal to introduce mandatory quotas for the number of women on the boards of private companies.
Germany’s foreign minister says Berlin will fight a European Union proposal to introduce mandatory quotas for the number of women on the boards of private companies.
The plan proposed by European Commission Vice-President Viviane Reding in November would require at least 40 percent of the non-executive directors of publicly traded European companies with more than 250 employees to be women by 2020.
But Foreign Minister Guido Westerwelle says it’s a national issue that Brussels shouldn’t be involved in – a stance also taken by Britain.
He says: “Germany will not only not accept such a directive, but we will work actively against it.”
Most Read Business Stories
- REI picks new satellite office ‘surrounded by trail networks’
- Judge upholds Seattle eviction regulations, rebuffing landlords' lawsuit
- Fry's Electronics executive accused of embezzling $65 million
- Funky electronics chain Fry's is no more
- Alaska Airlines ordered to pay $3.2M to family of woman who died after escalator fall
The proposed measure still needs approval by EU leaders and the European Parliament.