London (CNN) -- Deutsche Bank boss Josef Ackermann's recent comment that a woman's presence on a company board might make meetings "prettier and more colorful" has sent his personal stock plummeting.
It was one of the less constructive contributions to the debate raging in Germany and across Europe about the chronic absence of women serving at the top of major public companies.
Women make up only 3% of CEOs of Fortune 500 companies and in Europe, only 12% of positions on boards are occupied by women, according to research by Russell Reynolds and the European Professional Women's Network.
The situation is improving -- the percentage of women who served on boards in Europe was only 8% in 2004 -- but their representation is still well below levels that some political leaders would like.
Speaking about promoting gender equality this week, German Chancellor Angela Merkel warned German business leaders to "be creative, or we will be creative". CNN
