ASX200 boards are edging closer to 30% female directors

Australian Diamonds. Picture: Getty Images
  • Women now account for 28.5% of ASX200 board positions.
  • The AICD, the peak company director body, says the year to date appointment rate for women is strong at 50%.
  • There are now only three companies with no women on their boards, down from 30 companies when the AICD released its inaugural gender diversity report in September 2015.

The boards of Australia’s largest companies are drawing closer to achieving 30% female representation by the end of 2018.

Figures released today by the Australian Institute of Company Directors (AICD) show women accounted for 28.5% of ASX200 board positions at the end of August.

This is up from just 20.6% at the same time in 2015 when the AICD released its first Quarterly Gender Diversity report.

Over the same time the number of ASX 200 boards with no women dropped to just three from 30.

“There’s no doubt this report shows significant momentum in the right direction,” says AICD Chairman Elizabeth Proust.

“Importantly, the rate of female appointments to ASX200 boards has remained strong over the course of 2018, with women accounting for 50% of appointments.

“This is an indication that the move towards greater gender diversity on Australian boards is not fading.

“The rate and pace of change this year has been incredibly encouraging. It shows that voluntary targets are a powerful way to achieve change.

“Greater diversity on boards plays an important role in combatting group-think, leading to better outcomes for shareholders and stakeholders alike.”

The three companies on the ASX 200 with no women on their boards: ARB Corporation Limited, Tassal Group Limited, TPG Telecom Limited.

The number of boards which have reached the 30% target:

Source: AICD

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