Another eight companies in the ASX 200 have reached the target of 30 per cent women on their boards this quarter. However, there are still 87 companies whose boards have not yet reached 30 per cent. Notably, 76 of those boards are just one more woman shy of the target.
The representation of women on Australia’s top 200 boards has risen by more than 2 percentage points in the last 12 months, from 29.8 per cent at 31 October 2019 to 32.1 per cent this quarter. The ASX 300 has seen a similar 2 percentage point increase since October 2019, to 29.6 per cent this month.
AICD CEO and Managing Director, Angus Armour says “I believe that the message about diversity is being heard. Boards have been forced to adapt to disruption as an inherent feature of the ‘new normal’, with implications ranging from new technologies, digitisation and AI, to financial and political uncertainty.
“These numbers are particularly pleasing given not only the huge disruptions caused by COVID-19 this year, but also the disproportionate impacts on women from the pandemic. Now, more than ever, the representation of women in leadership is critical to ensure an effective post-COVID recovery.
“There are 76 companies who are on the cusp of reaching 30 per cent, if their current board composition included just one more woman. We are calling on those boards who have not yet made active steps towards a gender-balanced board to consider the full pool of board-ready candidates for their next appointment.”
As at 1 November 2020, there were two companies in the ASX 200 with no women on their boards:
- Silver Lake Resources Limited
- Perseus Mining Limited
The AICD maintains that diversity of representation on boards leads to stronger, better decision-making and we look forward to continuing to work with the director community on this important issue.
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