New report reveals more than half of women joining ASX 300 boards are first-time appointments

Analysis of ASX 300 data released today by the Australian Institute of Company Directors (AICD) reveals 53 per cent of women non-executive directors (NEDs) appointed in the past year are entering the index for the first time.

AICD General Manager, Governance & Policy Leadership, Louise Petschler, said, “These figures tell a positive story, and reflect the efforts of boards to look beyond known names and networks to engage new talent.”

The proportion of women on ASX 200 and ASX 300 boards has continued to climb (34.7 per cent and 33.6 per cent respectively, as at 31 May 2022) and the 30 per cent target was also reached within ASX companies ranked 201-300 for the first time.

“We anticipate these trends will continue while boards maintain a focus on diversifying talent and accessing the broadest talent pool”, Ms Petschler said.

In disappointing news, an all-male board has entered the ASX 200 following the most recent rebalance of the index. There had been no all-male boards at Australia’s top 200 companies since August 2021.

There are still 53 ASX 300 boards with one or no women at all, as well as 63 ASX 200 boards and 118 ASX 300 boards that have not reached 30 per cent, as at 31 May 2022.

The AICD encourages all organisations to embrace a 40:40:20 model of board gender diversity, where boards have at least 40 per cent women directors and 40 per cent men directors, as good practice.

There was one all-male board in the ASX 200 as at 31 May 2022:

• AVZ Minerals Ltd.
  

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Media contact: Maegen Sykes 0439 167 567