The Australian Institute of Company Directors (AICD) is now confident that its target of having 30% female directors on ASX 200 company boards will be reached in 2018.
The latest AICD Quarterly Gender Diversity Report finds that the percentage of women on ASX 200 companies has risen to 23.8% from a low of 8.3% in 2009.
However, at the end of August there were still 22 ASX 200 boards with no women. That number increased by two since the last quarterly report.
Here are the 22 ASX 200 companies without a female board director:
Southern Cross Media Group Limited left the women on the board list on the retirement of Kathy Gramp in June. AGL left the list left due to the retirement of Sandra McPhee but will rejoin on the appointment of Diane Smith-Gander in September.
John Brogden, the AICD’s chief executive, says the focus on gender diversity is finally yielding results but the 30% target will only be reached if the current positive momentum is sustained.
“This is an extremely encouraging result which shows that real progress is being made on the appointment of women to ASX 200 boards,” he says.
But the target will only be achieved if the monthly new appointment rate of 38% or above continues.
“The 30% target is important because research shows this is the level at which the number of women on a board becomes a critical mass,” says Borgden. “Put simply, it’s the point where a group has a voice at the table, not just a seat.”
“While these results are positive, the challenge is to maintain momentum. The AICD will continue our focus on gender diversity in consultation with our members and ASX 200 company chairs.”
Monthly new female appointment rates to ASX 200 boards have risen to 42.8% in the year to June from 9% in 2009.
Medibank Private tops the list with five women directors, representing almost two-thirds of the board.
This chart shows the accelerating rate that women are being appointed to ASX 200 boards:
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