The target of 30 per cent of women on boards was reached at the end of last year, according to the AICD Gender Diversity Report. “It is also interesting that 34 companies still only have one female director and six companies still have none,” says Mr Armour.
While considerable progress has been made, “the 30 per cent achievement marks a point in time and not a destination,” Mr Armour says. “As the commitment to gender diversity gains momentum amongst Australian listed companies, it is hoped that 30 per cent of women on boards is now the minimum accepted standard with a move towards a 40:40:20 balance.”
At a practical level, this means 40 per cent of both women and men, with the remaining 20 per cent being of either gender.
Female representation on ASX200 boards
- Female chairs 17
- Female MDs and CEOs 10
- 100 ASX200 boards have reached the 30 per cent target
- 57 ASX100 boards have reached the 30 per cent target
- 30 ASX50 boards have reached the 30 per cent target
- 16 ASX20 boards have reached the 30 per cent target
Boards with no female directors
- HUB24 Limited
- New Hope Corporation Limited
- Pro Medicus Limited
- Silver Lake Resources Limited
- TPG Telecom Limited*
*NRW Holdings announced the appointment of Fiona Murdoch to its board in February.
“It is interesting that 34 (ASX200) companies still only have one female director and six companies still have none,” says Mr Armour.
The 30% Club is tracking the progress of S&P/ASX 300 (ASX 300) companies in reaching the 30 per cent target by the end of 2021.
“This year, the 30% Club will continue to ramp up the pressure on companies who are underperforming on gender diversity and drive a conversation about what needs to change,” says Nicola Wakefield Evans FAICD, Chair, 30% Club Australian Chapter.
“We clearly need to ensure that when companies list, the boards comprise of at least 30 per cent female directors.”
In 2018, when female director numbers were only about 19.6 per cent, a target was set by the 30% Club for 30% female directors on the ASX 200 by the end of 2018.
Progress is largely being driven by companies up the top end of the index, with the ASX 100 surpassing the 30% target early in 2019.
Top 10 firms with the most female directors on boards
Bapcor Limited 60 per cent
NIB Holdings 57.1 per cent
CW Bank of Aust 55.6 per cent
Medibank Private 55.6 per cent
Woolworths Group 55.6 per cent
Abacus Property Group 50 per cent
Ansell Ltd 50 per cent
Clinuvel Pharmaceuticals Ltd 50 per cent
CSR Ltd 50 per cent
Fortescue Metals Group 50 per cent
Mirvac Ltd 50 per cent
Inclusive Leadership Webinar
Join us for an AICD webinar on March 5 on the The Power of Being An Inclusive Leader. Juliet Bourke, Partner, Human Capital, Deloitte Touche Tohmatsu, will talk about the six signature traits of an inclusive leader and other dimensions to leadership. Register here.