Senior Partnerships Adviser
The percentage of women on ASX 200 boards has more than doubled over the last four years according to figures released by the Australian Institute of Company Directors (AICD).
The percentage of female directors on ASX 200 boards has increased from 8.3% in January 2010 to 17.6% in February this year.
John Colvin, Chief Executive of AICD says the figures show significant progress has been made, but there is still work to do to increase gender diversity in Australian boardrooms. He credited the AICD’s Board Diversity Initiative with helping to increase the number of female directors.
“[When we developed the initiative] we felt the proportion of women on major company boards was not good enough and needed to be increased,” said Mr Colvin.
“More needs to be done, but the progress made so far is very heartening.”
Larger companies are more likely to have female directors. Women now hold 23.8% of directorships in the ASX 20, 21.4% of directorships in the ASX 50 and 20.5% in the ASX 100.
Forty-two ASX 200 boards still don’t have any female directors, although this is down from 87 in June 2010.
"This shift is the result of boards taking it upon themselves to redress the imbalance that exists. Directors in the ASX 200 are saying: ‘It’s not good enough, we need to fix it and we are fixing it ourselves’.”
“We are confident this improvement will continue as more and more boards recognise the value of diversity and actively seek out female talent, without the imposition of mandated quotas,” Mr Colvin says.
For more information on the range of gender diversity initiatives developed by the Australian Institute of Company Directors, visit their website.