London (CNN Business) Germany's coalition government has agreed to a mandatory quota for women on the boards of listed companies in what's being hailed as a landmark moment for Europe's biggest economy.
Listed companies with management boards of more than three executives must appoint at least one woman to the C-suite, according to a statement Friday by Germany's ministry for family affairs, senior citizens, women and youth.
"We are putting an end to women-free boardrooms at large companies," said Franziska Giffey, the minister for women and families, who described the decision as a "historic breakthrough."
Siemens SIEGY Janina Kugel, the former chief human resources officer at, was among several prominent women leaders and campaigners in Germany who welcomed the newsJutta Allmendinger, president of the WZB Berlin Social Science Center, said the decision was "historic."
Jutta Allmendinger, President of the WZB Berlin Social Science Center.
Germany's, Franziska Giffey, Siemens, Janina Kugel, Jutta Allmendinger
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