Although 30% of ASX200 board seats in aggregate are held by women, research from the Australian Institute of Company Directors (AICD) show that 100 companies have not reached the 30% target and six companies still have no women on their board.
In December 2019, AICD announced that percentage of women on ASX 200 boards had reached 30 per cent for the first time. As of 31 January 2020, women held 30.7 per cent of board seats on the ASX 200.
“As 2019 ended, we celebrated a milestone – for the first time women made up 30 per cent of board seats on the ASX 200. It is great to see that the momentum has continued so far this year,” said Angus Armour, AICD CEO and managing director. “However, it is still the top Australian companies that lead the way on gender diversity.”
The report noted that 56 ASX100 boards have reached the 30% target, while 32 ASX50 boards have reached that target and 15 ASX20 boards have reached the 30% target. The five companies companies with the highest percentage of women on their boards are Bapcor, with three women, or 60%, NIB Holdings, with four women, or 57.1%, Commonwealth Bank, with rive women, or 55.6%, Medibank Private with five women, or 55.6%, and Woolworths Group, with five women, or 55.6%.
There were six companies on ASX 200 boards with no women on their boards as at 31 January 2020: TPG Telecom Limited, HUB24 Limited, NRW Holdings Limited, Pro Medicus Limited, Silver Lake Resources Limited, and New Hope Corporation Limited.
“Reaching our voluntary target of 30 per cent in December was a tremendous achievement,” said Nicola Wakefield Evans, 30% Club Australia chair. “There is more work to be done though and the 30% club is now extending our focus on encouraging all individual boards in the ASX 300 to have a minimum of 30 per cent female directors as well.”
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