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PRESS RELEASE: FidAR WoB-Index: More than half of German Executive Boards free of Women: Many DAX Companies Continue to Plan Without Women / Proportion of Women on Supervisory Boards Stagnates

05/27/2021 | 04:14am EDT
DGAP-News: FidAR - Frauen in die Aufsichtsräte e. V. / Key word(s): Study/Study results 
FidAR WoB-Index: More than half of German Executive Boards free of Women: Many DAX Companies Continue to Plan Without 
Women / Proportion of Women on Supervisory Boards Stagnates 
2021-05-27 / 10:12 
The issuer is solely responsible for the content of this announcement. 
FidAR WoB-Index: More than half of German Executive Boards free of Women: Many DAX Companies Continue to Plan Without 
Women / Proportion of Women on Supervisory Boards Stagnates 
- Federal Minister for Women's Affairs Christine Lambrecht: "For real progress we need the minimum participation in the 
- FidAR President Schulz-Strelow: "Women-free DAX boards must finally be history". 
Berlin, 27.05.2021: More than half of Germany's large listed corporations have no women on their management boards. 62 
still plan to have a female-free boardroom, including the DAX 30 companies Delivery Hero and RWE. However, the federal 
government's plans for a statutory minimum participation of women on executive boards are already showing an effect: 
with adidas, BAYER, E.ON, Infineon, Fielmann and Südzucker, six of the 66 corporations subject to the new regulation 
have already appointed a woman to the executive board since the announcement of the plan. There is still need for 
action at 25 companies. This is the result of FidAR's current Women-on-Board Index as of April 2021, which is being 
published today in Berlin. 
Stagnation in the proportion of women on supervisory boards and committees 
After a strong increase due to the introduction of the women's quota for supervisory boards in 2015, the growth in 
supervisory bodies has almost come to a standstill. The proportion of women on the supervisory boards of the 186 
companies currently listed on the DAX, MDAX and SDAX as well as those listed on the Regulated Market and subject to 
equal co-determination has risen minimally by one percentage point to 33.2 per cent since 2020. The 106 companies 
currently subject to the quota have reached a new high with an average of 36 per cent women on the supervisory board 
(+0.8 since 2020). In contrast, the 80 DAX companies not subject to the quota remain well below 30 per cent at 24.5 per 
cent (+1.7 since 2020). The proportion of women is also hardly increasing in the important committees of the 
supervisory boards - women continue to be significantly underrepresented in the most important decision-making bodies 
such as the presidential committee and the nomination committee. 
Equal participation on boards is slowly increasing 
Since the discussion about a women's quota for the management bodies, things are slowly moving in the composition of 
the boards. The proportion of women has increased by 2.3 percentage points since the previous year to 13 per cent. 
Among quota companies, the share is slightly higher at 14.1 per cent (+2.6 since 2020), while among non-quota companies 
it is only 11.3 per cent (+1.8 since 2020). The number of companies with a female-free boardroom that have set a target 
of "zero" fell from 75 to 62 compared to the previous year - but this still means that almost 40 per cent of the target 
setting companies have defined a "zero" target for the board. 
Statutory minimum participation in the board of directors is right answer to target "zero" 
In the WoB Index study, FidAR publishes for the first time the list of 66 companies that fall under the planned minimum 
participation of women on boards. 25 of these companies (37.9 %) currently have no women on the board and thus a 
corresponding need for action - just under half of these 25 corporations (12 / 48 %) do not yet plan to change this, as 
they are currently continuing to set a target of zero for the executive board. 
"Women contribute with high qualifications and performance to the success of a company. This must finally be adequately 
reflected in all management levels of companies. That is why it is high time for the minimum participation of women on 
management boards," emphasises Federal Minister for Women's Affairs Christine Lambrecht. "The quota already introduced 
for supervisory boards has shown: These regulations have an effect - and a lasting effect. They not only change the 
composition of the management bodies, but also affect the entire corporate culture. They have a positive effect and a 
role model function in the respective company, but also generally on the promotion of young women. With the second law 
for more women in management positions, we are setting the right course and finally giving qualified women the 
opportunities they deserve at management level as well." 
"There must finally be an end to DAX boards without women. Many companies do not have any women in management positions 
and are obviously not pursuing any strategy to change this. It is only consistent that they are now called upon more 
emphatically to participate on an equal footing. The minimum participation requirement should be reached relatively 
quickly by the 66 companies in question. What is needed, additionally, are credible diversity concepts and noticeably 
more women at all management levels," explains FidAR President Monika Schulz-Strelow. "We have been studying DAX 
companies for 10 years now. The result is only satisfactory where the legal regulations have a numerical effect. Beyond 
that, however, strategic targets for equality are lacking. Corporations that present a target of zero as 'appropriate' 
and state that they do not pursue a diversity concept obviously need more pressure from the legislator. In the medium 
term, the supervisory board quota should apply to all companies that are subject to the target size requirement. This 
is the most effective lever to achieve more change at all management levels. We will campaign strongly for this with a 
view to the Bundestag elections." 
The WoB Index is funded by the Federal Ministry for Family Affairs, Senior Citizens, Women and Youth. The detailed 
study on the Women-on-Board-Index 185 by FidAR can be found at www.wob-index.de. 
Your contact person 
Monika Schulz-Strelow, President FidAR - Frauen in die Aufsichtsräte e. V. 
Tel.: +49 (30) 887 14 47 13, e-mail: monika.schulz-strelow@fidar.de 
Press contact 
Matthias Struwe | Eye Communications | Press and Public Relations Agency 
Tel.: +49 (7 61) 137 62-21, e-mail: m.struwe@eyecommunications.de 
About FidAR: 
FidAR - Frauen in die Aufsichtsräte e. V. (Women on Supervisory Boards) is a non-partisan and supra-regional initiative 
launched in 2006 by women in leadership positions in business, science and politics. FidAR aims to achieve a 
sustainable increase in the proportion of women on the supervisory boards of German companies and to improve corporate 
governance. The goal of the initiative is equal representation in all management positions in the German economy. FidAR 
pursues these goals in close exchange with business, politics, science and in cooperation with the relevant business 
and women's associations. More information on FidAR is available on the internet at www.fidar.de. 
2021-05-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 

1201414 2021-05-27

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(END) Dow Jones Newswires

May 27, 2021 04:13 ET (08:13 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG 0.13% 309.65 Delayed Quote.3.71%
BAYER AG -0.46% 50.23 Delayed Quote.4.77%
DAX 0.09% 15538.54 Delayed Quote.13.12%
DELIVERY HERO SE 0.44% 124.45 Delayed Quote.-2.52%
DJ INDUSTRIAL -0.24% 35058.52 Delayed Quote.14.56%
INFINEON TECHNOLOGIES AG 1.66% 31.85 Delayed Quote.-0.21%
MDAX 0.39% 35078.98 Delayed Quote.13.43%
RWE AG -0.17% 29.85 Delayed Quote.-13.54%
SDAX 0.35% 16353.96 Delayed Quote.10.36%
SÜDZUCKER AG -1.11% 12.48 Delayed Quote.8.14%
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