ASX 200 hits 30% women on boards

After a four-year campaign to increase gender diversity on Australian boards, the 30 per cent target has been reached.

In April 2015, when women made up 20 per cent of ASX 200 boards, the AICD set a voluntary target for 30 per cent of board seats to be filled by women by the end of 2018.

AICD CEO and Managing Director, Angus Armour, said, “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.

“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.

“We should recognise the commitment of community and business leaders to achieve this milestone and applaud Australia’s top 100 listed companies for leading the way and surpassing 30 per cent.”

“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,” Mr Armour said.

30% Club Australia Chair, Nicola Wakefield Evans said, “I’m incredibly proud that we can say 30 per cent of ASX 200 boards are now women.

“This target could not have been achieved without the considerable efforts of senior chairs, directors, executive search firms, fund managers, investors and other advocates who have led from the front on this issue,” Ms Wakefield Evans said.

“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.”

There are still 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

Media Contact: Maegen Sykes 0439 167 567