BMW against Germany upholding strategy for quota of board women image

Bayerische Motoren Werke AG – the world’s largest luxury automaker – alongside other important industrial companies in Germany has decided to speak out against the country’s governmental plan to impose a quota for installing women in non-executive leadership positions.

The plan has been introduced by none other than Chancellor Angela Merkel’s coalition and aims to increase the number of women seated in non-executive leadership positions. The agreement is very fresh – reached yesterday night and would see the Christian Democratic Union and Social Democrats implementing a bill that would ask listed companies to give 30% of their supervisory board positions to women.

“BMW as a company doesn’t believe in quotas, ” immediately commented the company through Jochen Frey, a spokesman for the Munich-based company. “While we hold that opinion, we want and strive for diversity in our workforce in terms of gender, ethnicity and age.”

According to the Economy Ministry’s website, when it comes to companies featured in Germany’s benchmark DAX Index, only 6% of management board seats and 22% of supervisory board posts are currently held by women. Meanwhile, the largest European economy has a female chancellor and women also occupy some critical government positions – such as the key Defense Ministry.

Via Bloomberg