Schelling: "Supervisory boards of Finance Ministry associates consist mainly of women" Austrian Finance Minister meets supervisory-board members of BMF-associated companies

"With effect from October, we are increasing the quota of women on the supervisory boards of the Finance Ministry's associated companies to at least 50%," declared Finance Minister Hans Jörg Schelling at a reception of supervisory-board members in Johannesgasse at the beginning of this week. "We have decided in favour of doing more than just fulfilling the quota of women," stressed Schelling. "We have just assigned women to 14 new supervisory-board positions. Where the Finance Ministry is in a position to make appointments to the supervisory board, we are significantly exceeding the statutory quota of 30%. Our own quota as regards female appointments is approximately 58%," affirmed Schelling, gratified at the numerous highly-qualified top women in executive posts.

Thirty-three of the fifty-seven representatives from the Austrian Federal Ministry of Finance (BMF) within the Ministry's associated companies are now women; this includes the Buchhaltungsagentur des Bundes (federal accounting agency), Bundesbeschaffung GmbH (in charge of procurement), der Bundesrechenzentrum GmbH (responsible for data processing) and the Österreichische Bundesfinanzierungsagentur (Austrian Federal Financing Agency). Both external female candidates, and female executives within the Finance Ministry, are nominated or assigned to posts.

According to the Act on Gender Balance of Women and Men on Supervisory Boards (Gleichstellungsgesetz von Frauen und Männern im Aufsichtsrat (GFMA-G)) of June 2017, with effect from 1 January 2018, stock-market-listed companies and companies with over 1,000 employees are obliged to implement a quota of at least 30% of each gender on their supervisory board. In addition, back in March 2011, the Austrian federal government undertook through a decision of the Council of Ministers to increase to 35% the quota of women on supervisory boards within the federal-government allocation to associated companies with majority government holdings by 31 December 2018.

"The pool from which we are able to select female candidates for positions to be filled is still not large enough. It remains the case that there is a greater number of men assuming managerial responsibility. We need to work on this. In the meantime, I consider statutory quotas to be entirely logical. They generate the necessary pressure which is clearly still needed," explained Schelling in conclusion.