Gender quota for German companies
Large German companies will either have to allocate 30% of seats on non-executive boards to women or leave them empty, after new legislation was passed on Friday.
The law, which will come into effect in 2016, was passed on the same day that a survey, published in the Handelsblatt newspaper, revealed just how severely women were underrepresented at the highest levels of German companies, with more than half of mid-sized firms not having a single woman in a leadership position, compared to an EU average of 36%.
The move, heralded as “the biggest contribution to equal rights since the vote for women was introduced,” by Germany’s justice minister and SPD (Social Democratic Party of Germany) politician, Heiko Maas, will affect over 100 listed companies with employees that serve on their supervisory boards. About 3,500 medium-sized German companies will be required to set their own quotas.
This type of quota system isn’t the first that Europe has seen - that honor goes to Norway, which specified that women should make up at least 40% of a public limited company’s board members in 2003. France, Spain and the Netherlands have since introduced similar measures.
NYU Stern dean awarded US foreign policy medal
Peter Henry, dean at NYU Stern has been awarded a Foreign Policy Association (FPA) Medal.
The FPA awards medals annually to foreign policy practitioners and to academics that research and teach in the area of US foreign policy. Past recipients include Hillary Clinton, former secretary of state in the US.
The award comes “in recognition of his dynamic and visionary leadership” at NYU Stern according to FPA president Noel V. Lateef, who added that the school “is preparing future business leaders for an increasingly globalized economy.”
Peter Henry was an international economics professor at Stanford before joining NYU Stern as dean in 2010. As well serving as an economic advisor to the governments of Jamaica and Ghana, Henry has spoken regularly at the IMF and testified before both the United States Senate Committee on Foreign Relations and ambassadors to the UN.
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