ECB Extends Application Period Due To Lack Of Female Candidates
ECB extends Application period due to Lack of female Candidates. The European Central Bank (ECB) has extended the application period for three top positions because it has not yet found suitable female candidates, according to the reports by sources.
The central bank has long been struggling to attract female talent for various managerial positions.
Currently, for example, there is only one woman on the 25-person board.
Also, three-quarters of managerial positions are held by men.
European policymakers are therefore critical of the prevailing male culture at the Frankfurt-based bank.
It was reinforced when men recently replaced two female supervisors.
Although the ECB has set the improvement of the gender balance as an essential goal,
it is not legally required to apply gender quotas.
The vast majority of male administrators are politically sensitive.
Also, a lack of women in top positions would complicate the appointment of Yves Mersch,
from Luxembourg as a new board member.
Both Mario Draghi and Benoit Coeuré will leave the European Central Bank in the coming period.