ASX commitment to diversity on Boards

Women make up 30 per cent of ASX200 boards, but female exec appointments still lacking.

The share of women on ASX200 boards has risen from 8.3 per cent in 2008 to 33.6 per cent in 2021, making Australia one of just three countries to crack the 30 per cent threshold without legislated quotas.

This is the finding from a new study by a University of Queensland (UQ) Business School team, which dug through the literature and interviewed 33 key insiders, including ASX50 board chairs, executive recruiters, and female CEOs.

The research and report Towards Board Gender Parity was supported by the Australian Institute of Company Directors (AICD) and the Australian Gender Equality Council (AGEC).

Dr Miriam Yates, who co-authored the study along with Dr Terrance Fitzsimmons and Professor Victor Callan, said the aim was to identify what drove this trend and support it.

"Two key drivers for change included the shift in reporting on diversity within the ASX Corporate Governance Council Recommendations and the AICD's board mentoring program," she said.

"The ASX recommendation facilitated greater transparency, while we know from the research that formalised mentoring can be the catalyst for 'opening the door' to under-represented group members within the workplace."