The latest quarterly Gender Diversity Report released by the Australian Institute of Company Directors reveals that as at the end of April 2020, 30.7% of ASX 200 board seats are filled by women.
While it is encouraging to see this figure has held steady against the backdrop of COVID-19, there has been no progress since January. And, critically, female directors represent only 34 per cent of new appointments to the ASX 200 this year.
While a stall in changes to board arrangements is likely to be a reflection of companies responding to the global COVID-19 pandemic, this unprecedented period also represents an opportunity for organisations to rethink what effective leadership looks like, what skills boards will need to adapt and respond to challenges of the future, and what the COVID crisis has taught us about the value of diversity in leadership.
As we move towards the recovery and rebuild phases, we encourage companies to reflect on the skills required to drive innovation and growth. Board diversity is a key consideration in this discussion.
The AICD will continue to advocate the benefits of board diversity, including gender diversity, and it is our hope that Australia’s leading businesses will continue to pave the way towards a 40:40:20 gender balance in their leadership.
Our statistics reveal that while 30.7% per cent female representation has been achieved at an aggregate level, only 34 per cent of new appointments to the ASX 200 this year were women, and
the four companies listed below still have no female representation on their boards.
- New Hope Corporation Limited
- Pro Medicus Limited
- Silver Lake Resources Limited
- TPG Telecom Limited
The AICD looks forward to continuing to work with the director community on this important issue.
View our media release here.