
Germany has reached a significant milestone in improving gender equality within its business sector. For the first time, women now hold more than a quarter of senior management positions in the country’s 40 largest publicly listed companies, marking a historic achievement for female leadership.
According to a recent study by consultancy firm Russell Reynolds, the proportion of women in senior roles has risen from 13.3% in 2020 to 25.4% today, a notable increase of two percentage points since last year. This boost reflects a growing trend towards gender equality that signals Germany is gradually aligning with its Western counterparts in terms of workplace diversity.
One of the standout moments in this progress is the fact that for the first time ever, Germany has three female chief executives heading DAX-listed companies. Bettina Orlopp at Commerzbank, Karin Rådström at Daimler Truck, and Belén Garijo at Merck are leading major firms, further emphasising the shift in corporate leadership dynamics.
The improvement is largely credited to the mandatory quota law passed in 2020, which required that publicly listed companies with boards of more than three members must include at least one woman. Prior to this legislation, voluntary efforts to increase female representation in top positions had largely fallen short. The law faced criticism from business groups, who argued that it was unnecessary interference and claimed there weren’t enough qualified female candidates for senior roles.
However, the results speak for themselves. Jens-Thomas Pietralla, head of Russell Reynolds’ European Board, pointed out that the change shows that “gender diversity is not a fair weather topic but is gaining in importance in economically difficult times.”
The study also highlighted that, at 12 of the 40 companies surveyed, at least a third of the executive board is now female. Among these, Commerzbank and Siemens Healthineers stand out with a balanced gender split, with women holding 50% of the top management roles. On the other hand, Porsche SE is the only company in the study with no women at the helm of its top management.
Women are particularly well represented in sectors like energy, consumer goods, insurance, and financial services. However, the study revealed that the automotive industry still lags significantly behind, with far fewer female leaders in that field.
This progress shows that while there’s still work to be done, Germany is gradually catching up in terms of gender equality in business, with more women stepping into key leadership roles than ever before.