FidAR WoB Index: Proportion of women on supervisory boards stagnates for the first time / Increase on management boards slows noticeably / Legal pressure decisive
Issuer: FidAR – Frauen in die Aufsichtsräte e. V. / Key word(s): Study/Study results
16.07.2025 / 10:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Press Release
FidAR WoB Index: Proportion of women on supervisory boards stagnates for the first time / Increase on management boards slows noticeably / Legal pressure decisive
- Federal Minister for Women Prien: "Promote more female talent"
- FidAR founding president Schulz-Strelow: "Planning with zero women is unacceptable"
- FidAR President Seng: "We need more fixed quotas for more companies"
Berlin, 16.07.2025: For the first time since the first Management Positions Act came into force on 1 May 2015 and the introduction of the gender quota, the proportion of women on the supervisory boards of German listed companies has fallen slightly. In the supervisory bodies of the 179 companies currently listed on the DAX, MDAX and SDAX as well as those listed on the Regulated Market with parity co-determination, the proportion fell to 37 per cent (2024: 37.3 %). Growth on the management boards has slowed noticeably; at 19.9 per cent, one fifth of the top positions are held by women (2024: 19.3 %). This means that most companies are still a long way from achieving equal representation on their boards. These are the findings of the latest FidAR Women-on-Board-Index as of May 2025, which is being published today in Berlin.
Gender quota and minimum participation requirement largely implemented
The gender quota is implemented by the majority of companies: almost 80 per cent of the 179 companies surveyed achieve a 30 per cent share of women on the supervisory board. 78 companies have a proportion of women of 40 per cent and 25 have an equal number of women on their boards. Almost all of the 60 companies currently covered by the regulation fulfil the minimum participation requirement for management boards that has been in force for three years. Südzucker is only one of the companies concerned that has a management board without women and therefore needs to take action. Overall, the proportion of women on management boards has quadrupled in the ten years since the introduction of the Management Positions Act, but remains at a low level. It is striking that the number of companies with no women on the board has risen again from 65 in the previous year to 70.
The supervisory board quota makes the difference
Over the ten years since the introduction of the gender quota for supervisory boards, the proportion of women on the supervisory boards and management boards of companies subject to the fixed quota is significantly higher than that of companies not subject to this statutory regulation. With the application of FüPoG II, the proportion of women increased further. Overall, the proportion of women on the supervisory boards of leading listed companies has risen by 17.1 percentage points to 37% since 2015. The 101 companies currently subject to the supervisory board quota achieve a higher share of 38.6 per cent (+17.3). The 78 companies not subject to the quota increased to 34.1 per cent (+18.7). The differences are even more pronounced for management boards: the companies subject to the supervisory board quota achieved a high of 22.9 per cent (+18), while the companies not subject to the quota only reached 14.7 per cent (+9.5).
Federal Minister for Women Karin Prien: "Women should be given a fair chance"
"In recent years, the private sector has fortunately appointed significantly more women to supervisory boards and management boards. The legal framework has contributed significantly to this development. It is crucial that companies do not let up now' but continue to specifically promote female talent. More women in management positions not only strengthens equal opportunities, but also makes a significant contribution to sustainable business success," says Federal Minister for Women Karin Prien.
Disappointment in the realisation of targets - too many companies with a target of zero
While the fixed quotas are effective, the development of targets for the strategic planning of the proportion of women is stagnating. All companies analysed that are not subject to the quota regulations are obliged to set and publish targets for the proportion of women on the Supervisory Board, Executive Board and the first and second management levels. As in the previous year, 23 companies with no women on their management boards set a target of zero, i.e. they do not plan to appoint women to the management board - the majority of these (18) are companies that are not subject to the supervisory board quota.
Monika Schulz-Strelow: "Denial of equal participation not acceptable"
"It is a success that since the introduction of the sanctioned obligation to justify the target of zero, the number has halved from 46 to 23. However, the obligation to justify the target of zero women is clearly not enough on its own to persuade companies to strategically plan with women in management. Companies that continue to plan without women and do not justify this in a comprehensible manner should be consistently sanctioned. Overall, the obligation to set targets falls short of expectations. The individual voluntary commitment has not yet been fully implemented by all companies. Without tangible pressure, the obligation to set targets will not be taken seriously," says FidAR founding president Monika Schulz-Strelow, who has been in charge of the WoB Index since its first edition in 2011.
Overall, the track record of the statutory regulations speaks in favour of extending the fixed gender quotas to more companies. At present, only 101 companies are listed on the stock exchange and subject to co-determination on a parity basis and are subject to the supervisory board quota - the minimum participation requirement on the management board only applies to 60 companies in the private sector.
Anja Seng: "We need more binding rules for significantly more companies
"We should learn from the success of the legal requirements and ensure that they have more reach. The gender quota on supervisory boards should be increased to 40 per cent and extended to all companies that are listed on the stock exchange or have more than 500 employees. The minimum shareholding requirement should also apply to more companies and be converted into a fixed quota. This would include significantly more private and public companies. Only when more women are in management positions will equal participation become the norm in society. In other European countries, the EU Leadership Directive is already being implemented with a gender quota of 40 or 33 per cent in top bodies. As a society, we cannot afford for the German economy to fall behind when it comes to equal participation," says FidAR President Seng.
The WoB Index is funded by the Federal Ministry of Education, Family Affairs, Senior Citizens, Women and Youth. The detailed study on FidAR's Women on Board Index can be found at www.wob-index.de.
Your contact persons
Prof. Dr. Anja Seng, Präsidentin FidAR – Frauen in die Aufsichtsräte e. V., Berlin
phone: +49 (1 51) 12 54 64 60, eMail: anja.seng@fidar.de
Monika Schulz-Strelow, Gründungspräsidentin FidAR – Frauen in die Aufsichtsräte e. V., Berlin
phone: +49 (30) 887 14 47 13, eMail: monika.schulz-strelow@fidar.de
Press contact
Matthias Struwe | Eye Communications | Press and public relations agency
phone: +49 (7 61) 137 62-21, eMail: m.struwe@eyecommunications.de
About FidAR:
FidAR - Frauen in die Aufsichtsräte e. V. is a non-partisan and supra-regional initiative founded in 2006 by women in management 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 and culture. The aim of the initiative, which is supported by over 1,400 women and men, is to achieve equal representation in all management positions in the German economy. FidAR pursues these goals in close dialogue with business, politics, science and in cooperation with the relevant business and women's associations. More information about FidAR is available on the Internet at www.fidar.de.
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