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ASX 200 closes in on equality
Following a four-year campaign to increase gender diversity amongst Australia’s largest companies, the ASX 200 now has a 30 per cent participation rate, according to an industry body.
ASX 200 closes in on equality
Following a four-year campaign to increase gender diversity amongst Australia’s largest companies, the ASX 200 now has a 30 per cent participation rate, according to an industry body.
The Australian Institute of Company Directors (AICD) set a voluntary target of 30 per cent amongst Australian boards, which has been achieved.
As of 30 November 2019, the ASX 20 had a 35.2 per cent female representation, the ASX 50 had a 33 per cent representation, the ASX 100 had a 31.8 per cent female board and the ASX 200 reached 30 per cent.
Angus Armour, AICD’s CEO and managing director, said, “While the target was reached later than planned, this is a great achievement. We should celebrate the progress that has been made, which is evidence that meaningful change can be achieved through voluntary targets.
“We should recognise the commitment of community and business leaders to achieve this milestone and applaud Australia’s top 100 listed companies for leading the way and surpassing 30 per cent.”
In response to the AICD announcement, David Dixon, First Sentier Investors’ chief investment officer, equities, said: “This is fantastic news.”
“We view board diversity as an important investment indicator and actively encourage boards to look at diversity and inclusion as critical to improving the quality of decision making.”
There are still seven companies in the ASX 200 with no women on their boards. They are (as at 30 November 2019):
- TPG Telecom Ltd
- HUB24 Ltd (Ruth Stringer will join the HUB24 board in February 2020)
- NRW Holdings Ltd
- Pro Medicus Ltd
- New Hope Corp Ltd
- Silver Lake Resources Ltd
- Speedcast International Ltd
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