30% by 2018: gender diversity target slipping out of reach

Statistics from the AICD’s most recent gender diversity report indicate that the campaign to increase female representation on ASX 200 boards is far from over.

According to AICD’s Gender diversity progress report for the period March – May 2017 the percentage of women being appointed to ASX 200 boards has fallen in the in the first six months of this year.

There are still 13 companies on the ASX 200 with no women on their boards, and the drop in female appointments means the AICD’s target of achieving 30% female representation by the end of 2018 may be slipping out of reach.

The Gender diversity progress report shows the monthly rate of female appointments to ASX 200 boards has declined from 44% in 2016 to just 30% in 2017. This equates to 17 female appointments compared to 40 male appointments in the first five months of 2017.

On a more positive note, the report also shows that the number of ASX 200 boards that have reached the 30% target has risen to 71, more than double the number that had reached the target two years ago. Women also make up 25.4% of ASX 200 directorships.

AICD chairman Elizabeth Proust AO FAICD said research showed that gender diversity on boards led to better business outcomes, and that 30 per cent was the tipping point where critical mass was reached in a group setting.

“While we’ve made great progress since 2009 when women made up only 8.3% of ASX 200 boards, the drop in the rate of female appointments in 2017 is of significant concern,” she said.

“What is clear is that there is no supply problem, only one of demand.

“The AICD is calling on chairs and boards on the ASX 200 to continue to show leadership on gender diversity and to refocus their efforts on achieving the 30 per cent target as a priority.”

Download 30% by 2018: Gender diversity progress report for March – June 2017