Good news to finish the decade: the Australian Institute of Company Directors reports that the percentage of women on ASX 200 boards has reached 30 per cent for the first time.
There are still, however, seven companies in the ASX 200 with no women on their boards. They are (as at 30 November 2019):
- TPG Telecom Limited
- HUB24 Limited (Ruth Stringer will join the HUB24 Board in February 2020)
- NRW Holdings Limited
- Pro Medicus Limited
- New Hope Corporation Limited
- Silver Lake Resources Limited
- Speedcast International Limited
The AICD set the voluntary target of 30 per cent in April 2015, when women made up 20 per cent of ASX 200 boards. They had hoped to hit the goal by end of 2018, but narrowly missed.
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“While the target was reached later than planned, this is a great achievement. We should celebrate the progress that has been made, which is evidence that meaningful change can be achieved through voluntary targets,” said Angus Armour AICD CEO and Managing Director.
“It is clear that Australia’s largest companies see the value of board diversity; a diverse mix of views and perspectives around the table increases board performance and reduces the risk of group think.”
“The challenge now is to stay focused and maintain momentum. Smaller listed companies need to demonstrate they are also committed to the benefits of gender diversity,” Armour said.
Nicola Wakefield Evans, 30% Club Australia Chair, said the target could not have been achieved without “considerable efforts of senior chairs, directors, executive search firms, fund managers, investors and other advocates who have led from the front on this issue.”
“While this is significant step in our journey, it’s important to remember that 30 per cent is the floor, not the ceiling – so while we applaud the ongoing hard work of each board that is addressing gender diversity, we will ensure there is continued pressure on those who don’t, to continue increasing the number of female directors,” Wakefield Evans said.