This means that women and men with comparable qualifications and suitability have the same career opportunities. Fresenius Medical Care will continue to consistently act upon this principle, and will of course comply with the new law on the equal participation of women and men in executive positions in private companies and public service.
Pursuant to this law, the Supervisory Board of Fresenius Medical Care AG & Co. KGaA is required to define targets for the representation of female Supervisory Board members for its own composition as well as an adequate implementation period to achieve these targets. The Supervisory Board of Fresenius Medical Care AG & Co. KGaA has resolved to set the target for the representation of female Supervisory Board members in the Supervisory Board at two. Therefore, the Supervisory Board aims at a proportion of women in the Supervisory Board of more than 30% within the initial implementation period ending on June 30, 2017.
The legislator does not require that companies in our legal form define targets for the Management Board. In accordance with the legal requirements, the Management Board has resolved upon the following determinations for the top two management levels below the Management Board:
The first management level includes all direct reports worldwide to a member of the Management Board who are participants of the Long Term Incentive Program (or any successive program). The target for the proportion of women in the first management level is set at 18.8%, to be reached by December 31, 2020. This reflects the composition of the first management level as of December 31, 2015.
The second management level includes all direct reports worldwide to a member of the first management level who are participants of the Long Term Incentive Program (or any successive program). The target for the proportion of women in the second management level is set at 28.2%, to be reached by December 31, 2020. As of December 31, 2015 the proportion was 28.0%.
The Management Board believes that the composition of participants in the group-wide Long Term Incentive Program is a good indicator of the number of women in leading executive positions around the world. The proportion of women in this group of our top 850 executives was approx. 32% as of August 31, 2015.
