Female board representation hits an all-time high
Written on the 30 January 2019 by Business News Australia
Gender diversity on ASX 200 boards has hit an all-time high at the end of 2018, with nearly 30 per cent of board positions filled by women.
This is a huge milestone for Australian companies who have hit this target without any regulatory intervention or quotas.
The Australian Institute of Company Directors (AICD) says the 29.7 per cent female representation is an increase of over 10 percentage points since the organisation called for ASX 200 companies to achieve 30 per cent women on boards by the end of 2018.
According to AICD managing director and chief executive officer Angus Amour, Australia is the first country in the world to achieve 30 per cent diversity in the top 100 boardrooms without intervention.
"There is no doubt that corporate Australia has heard the message about the value of gender diversity in boardrooms," says Amour.
"Diverse boards help prevent group-think, leading to better outcomes for shareholders, consumers, employees and the community. They promote greater innovation and improved bottom lines."
Over the course of 2018, 45 per cent of all appointments to ASX 200 boards were women. For almost half of those appointed it was their first ASX 200 appointment.
Amour says there is still plenty of work to be done to achieve true gender diversity.
"Of course, 30 per cent remains the floor and not the ceiling for gender diversity," says Amour.
"We intend to continue advocating for gender parity on Australian boards."
There were just four ASX 200 companies with no women on their boards at 31 December 2018: AMP Limited, ARB Corporation, Emeco Holdings Limited, and TPG Telecom.
Business News Australia
Author: Business News Australia