Senior Partnerships Adviser
The Australian Institute of Company Directors (AICD) is calling for all boards to ensure 30% of their directors are female by the end of 2018.
While the number of female directors on ASX 200 boards has increased from 8.3% in 2009 to 20% in 2015, many ASX 200 boards still have no women on their boards, and data from the Workplace Gender Equality Agency shows that only 18.8% of ASX-listed reporting organisations that report to the Agency have set a target to increase female representation on their boards.
AICD Managing Director and Chief Executive Officer, John Brogden believes the objective will help companies reach the critical mass required to produce the optimal business benefits of board diversity.
“There is an undeniable case for gender diversity on boards. It is not only the right thing to do but the smart thing to do, because it means better business performance,” said Mr Brogden.
“We have always said that companies should set their own measurable targets for gender diversity and to facilitate their efforts we are now nominating a standard that we consider appropriate,” said Mr Brogden.
The AICD is urging all boards to adopt the target and regularly report on their progress in order to ensure the results of the initiative can be transparent and monitored by stakeholders.
For more information visit the AICD website.