Diversity to support future challenges

In the AICD’s first Gender Diversity Progress Report for 2022 there is continued progress toward board gender parity being made by companies in the ASX 200 and 300, with the overall appointment rate of female directors remaining close to parity across the ASX.

There were 34.5 per cent women on ASX 200 boards and 33 per cent women on ASX 300 boards at the end of February 2022.

AICD CEO and Managing Director, Angus Armour said, “It’s welcome to see the overall figure of women representation rise on the ASX 200 to 34.5 per cent, the highest level of gender diversity to date.”

However, there are still 66 ASX 200 boards and 127 ASX 300 boards that haven’t reached 30 per cent target at an individual level.

“Gender parity at board level is the goal, and we urge boards to consider every appointment an opportunity to shift towards a sustainable model of equality”, Angus said.

“We know that diversity in its broadest sense will deliver the greatest outcomes for boards, and gender diversity is just one measure of how a board achieves diversity through its composition.”

Ensuring the board’s collective skills and capabilities maintains currency in a world of rapid change is a key challenge for all boards right now. Beyond the desire for equality in representation, boards should be

considering how diversity can best support future strategy, to reap the true benefits of diverse thinking and strengthened decision-making.”