German etailer Zalando has outlined plans to make its senior management teams more diverse in gender, nationality and education.
It wants to achieve a 40:60 ratio of men to women, or vice-versa, across its top six management teams by 2023, including both its management and supervisory board.
This will involve several new initiatives that are set to launch in the coming months, such as updating its decision-making bodies and committees, changing hiring practices and introducing holistic succession planning, Zalando said.
It will also publish the new targets in its annual report and provide an update on its progress.
Co-CEO Rubin Ritter said: “During the past 11 years, [Zalando] has been very focused on establishing and growing our business, and we didn’t put enough effort into countering structural imbalances that have evolved.
“We acknowledge that today we lack diversity in our senior management, and we are committed to changing this.”
Chairman of the supervisory board Cristina Stenbeck added: “Diversity at all levels of a business drives better decision-making and fosters a culture of creativity and, when at its best, also boosts overall performance.
“I’m also convinced that diverse teams are more apt to create unique products and relevant user experiences for customers, as well as value creation for stakeholders.”