Female board appointments spike as 2018 deadline draws closer

The percentage of female appointments to ASX 200 boards has spiked in 2018, according to a new report released on International Women’s Day by the Australian Institute of Company Directors (AICD).

Women accounted for 47% of ASX 200 board appointments in the first two months of 2018, up from a sluggish 36% in 2017.

The AICD’s Quarterly Gender Diversity Report, which tracks progress towards the Institute’s target of achieving 30% female representation across ASX 200 boards by the end of 2018, also reveals that women now account for 26.7% of ASX 200 directorships.

The report shows that the number of ASX 200 companies which have no women around the board table now stands at only five, down from 14 last International Women’s Day.

Across the ASX 200, a total of 74 companies have reached or exceeded the 30% target.

AICD Chairman Elizabeth Proust AO cautiously welcomed today’s results.

“Today’s report reveals that 2018 has seen the highest rate of female appointments to ASX 200 boards since the AICD began tracking gender diversity statistics,” she said.

“While this news is encouraging, it is only reflective of the first two months of 2018. We’ll need sustained momentum of this kind if we are to reach our goal of 30% female representation across the ASX 200 by the end of the year.

“The boards of our largest companies have 10 months to prove to the community that they take the issue of gender diversity seriously.

“Greater diversity on boards is vital to the future of good governance in Australia.

“Diverse boards and leadership teams lead to better outcomes for shareholders and stakeholders alike. They lead to greater innovation and better bottom lines.

“This International Women’s Day, our challenge to directors is to look around your board table and ask yourself – how diverse is this group of people? Are you putting your organisation in the best possible position for the future with the team you have?”

To coincide with International Women’s Day, the 30% Club and AICD has released a video showing the type of questions female board candidates are still being asked in interviews. 

ASX 200 Boards with no female directors (as at 28 February 2018):

  • ARB Corporation
  • Ardent Leisure Group Ltd
  • Pilbara Minerals Ltd
  • Speedcast International Ltd
  • TPG Telecom

To read the full Quarterly Gender Diversity Report, please click here.

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