The AICD’s Quarterly Gender Diversity Report tracks progress towards the Institute’s target of achieving 30% female representation across ASX 200 boards by the end of 2018.
Today’s report shows that the number of boards with no women has fallen almost 75% – from 30 boards in 2015, to 16 this time last year, to now just eight.
The number of boards that have reached or exceeded the 30% gender diversity target has also doubled, from 35 in September 2015, to 70 at the end of November 2017.
However, while gender diversity has hit new highs, the drop in female appointments over 2017 means the AICD’s target of achieving 30% female representation across ASX 200 boards by the end of next year may be slipping out of reach. The monthly appointment rate of women to ASX 200 boards has fallen from a peak of 44% last year to 35% in 2017.
Speaking on the results at the National Press Club today, AICD Chairman Elizabeth Proust AO said the problem was one of demand, not of supply.
“More than 55 per cent of all university graduates in Australia are women. So why is it that by the time we get to executive ranks that number is reduced to 20 per cent and on the boards of our largest companies it remains at around 26 per cent?,” she said.
“It is clear that the senior ranks of many of our corporate sector organisations don’t reflect our community – nor the widespread talent within it.
“Australia’s boardrooms and C-suites are woefully lacking in diversity, not only when it comes to women, but in areas that Australia should do far better in such as cultural diversity as well.
“The business case for gender diversity on boards and in senior leadership is overwhelming. Diverse boards lead to better outcomes for shareholders and stakeholders alike.
“The AICD will continue to advocate strongly for greater diversity on our boards because diversity is vital to the future of good governance in this country.”
ASX 200 Boards with no female directors (as at 30 November 2017)*:
- ARB Corporation Ltd
- Ardent Leisure Group
- Beach Energy Ltd
- Flight Centre Travel Group Ltd
- Galaxy Resources Ltd
- Reliance Worldwide Corporation
- Speedcast International Ltd
- TPG Telecom Ltd
*The above list is correct as at 30 November 2017. Some companies may have appointed or announced a future appointment of a female director subsequent to this date.
To read the full report, please click here.
AICD Media Contact: Carissa Simons 0417 348 659
The Australian Institute of Company Directors is committed to excellence in governance. We make a positive impact on society and the economy through governance education, director development and advocacy. Our membership of more than 40,000 includes directors and senior leaders from business, government and the not-for-profit sector.