The German Act on the Equal Participation of Men and Women in Management Posi­ tions in the Private and Public Sectors (FüPoG) requires listed compa­ nies and companies that are covered by co­determination require­ ments to set targets for the proportion of women on their supervisory boards and boards of management/among their managing directors, plus the two tiers of management below this, and to report on wheth­ er these targets have been met.