2025 Board Diversity Index

While gender diversity on Australian boards continues to improve, the report shows that broader inclusion remains limited and progress uneven.

A decade of progress in gender diversity

In 2016, there were just 399 women on ASX 300 boards. By 2025, that number has nearly doubled to 781 seats. Almost three-quarters (73 per cent) of ASX 300 boards now include 30 per cent or more women, up from 69 per cent last year. This milestone reflects the sustained effort of Australian organisations and directors to ensure boardrooms are more representative of our society.

Despite these gains, the report also highlights the need for a broader and more inclusive approach to diversity - one that captures the full spectrum of lived experiences and backgrounds in Australia.

Broader diversity shows limited improvement

• Cultural background: The Index reveals a concerning decline in cultural diversity. Anglo-Celtic directors now make up 91.9 per cent of ASX 300 board seats, up from 91.2 per cent in 2024.
• First Nations representation: Just five directors across the ASX 300 openly identify as Aboriginal or Torres Strait Islander, holding seven board positions in total.
• Disability and LGBTQ+ inclusion: There remains no board representation of people living with disability, and only four openly LGBTQ+ directors are identified—though the actual figure may be higher.
• Board renewal and skills: While the average director age remains 61, board tenure is relatively healthy, with 84.5 per cent of directors serving fewer than 10 years. There is increasing demand for skills in areas such as technology, ESG, and cyber risk.

Insights

“While gender representation has improved, real inclusion across other dimensions remains limited. The opportunity is clear—by embracing diversity, Australian businesses can build stronger, more resilient, and globally competitive organisations.”
 - David Evans, Managing Partner, Watermark Search International

“The data tells a clear story—while gender representation is progressing, broader diversity gaps remain. This isn’t about ticking boxes; it’s about unlocking the value of different perspectives.”
 - Tharani Jegatheeswaran, Partner, Deloitte Australia

“Diversity is fundamental to effective governance. When directors bring different life experiences and ways of thinking to the table, organisations are better placed to deliver long-term value.”
 - Mark Rigotti, Managing Director & CEO, AICD

Directors remain committed to inclusion

Despite shifting global sentiment around diversity and inclusion, Australian directors continue to prioritise diverse boards. The AICD’s most recent Director Sentiment Index found that 84 per cent of directors expected their board’s commitment to diversity to either remain the same or strengthen in 2025.

Building boards that are future-fit

The 2025 Board Diversity Index urges Australian organisations to:

• Broaden their understanding of “board-ready” talent
• Introduce structured sponsorship and mentoring pathways
• Create environments where diverse voices are welcomed, heard, and valued

As we look to the future, building inclusive boards isn’t just the right thing to do - it’s essential to navigate complexity, foster innovation, and create long-term value for stakeholders.

Read the full 2025 Board Diversity Index here.