Implementation of the Act on the Promotion of the Proportion of Women in Management
The “Act on the Equal Participation of Women and Men in Leadership Positions in the Private Sector and the Public Sector” (Gesetz für die gleichberechtigte Teilhabe von Frauen und Männern an Führungspositionen in Privatwirtschaft und im öffentlichen Dienst) subjects companies that are subject to codetermination and listed on the stock market at the same time to comply with a fixed gender ratio of 30% for new Supervisory Board positions to be filled. In addition, the Act means that companies that are listed on the stock market or subject to codetermination have to set their own targets for increasing the proportion of women on Supervisory Boards, Management Boards and at the top levels of management.
As a listed company that is not subject to codetermination, the Management Board and the Supervisory Board of Vonovia SE discussed the target for the proportion of women on the company’s executive bodies and at management levels in their meetings held on June 29, 2015, and July 27, 2015, and agreed as follows:
For the first assessment period, the Management Board has set a target of 25% for the level of management below the Management Board, to be met by June 30, 2017. Due to organizational changes and the streamlining of the level of management below the Management Board, the proportion of women is expected to come to around 19% on June 30, 2017.
Taking the company’s legal and financial circumstances into account, the Supervisory Board decided to leave the proportion of women on the Management Board at 0% in the period leading up to June 30, 2017. A target of 25% women, i.e., three women, has been set for the Supervisory Board, which consists of 12 members. Up until November 1, 2015, there were two women on the Supervisory Board, a figure that had increased to three by May 12, 2016 and that then increased to four. The proportion of women on the Supervisory Board now amounts to 33%.