Keeping the Boardroom Honest

7 December 2009
MEDIA RELEASE

A new campaign to kick start effective measurement and reporting of women’s participation on boards was launched today.

Ruth Medd, Chair of Women on Boards, said the Boardroom Diversity Index will track the number of women on the boards of ASX200 companies, credit unions, superannuation funds, national sporting bodies, top government business boards, Cooperative Research Centres and the rural research and development corporations.

Medd said there is a real need to measure and report women’s progress (or lack of it) at board level across a number of significant sectors, identify those who are making changes and those who are not.

Women on Boards is also putting ASX200 companies on notice that unless there is a real and sustained increase in the numbers of women on their boards within three years, it would be pushing for the introduction of mandatory quotas.

“We prefer companies to achieve gender equity through voluntary targets, but there comes a time when enough is enough – and Australia’s professional women have just about reached that point.”

“There is no reason ASX200 companies cannot achieve significant progress in this time.”

“A key reform is removing the major barriers to women achieving directorship roles – the lack of transparency in the current system of board appointments and an unwillingness to broaden the search beyond the narrow pool from which directors are chosen.”

Medd said Women on Boards has a database of more than 7,000 professional women seeking directorships, many of whom are ready to step onto major boards.

Women on Boards today released the first data set in the Boardroom Diversity Index - female participation on ASX200 company boards – which shows a marginal increase the number of women on boards, up from 8.3 per cent in 2008 to 8.7 per cent in 2009.

“It also shows that the percentage of companies without a female director marginally increased in 2009 to 53 per cent – an embarrassing statistic for the ASX community.”

Eleven companies added at least one female to their board in 2009. Medd congratulated these Chairmen, many of whom are active in the public debate about the need for more diversity and more women on public company boards.

These findings, along with comments made by leading male and female directors in the media in recent weeks, demonstrate there is a strong push for public companies to set gender targets and be publicly accountable for them,” Medd said.

The good guys

The following companies added at least one woman to their board.

  • Pacific Brands (from two to four women) Chairman James MacKenzie
  • Westpac (from two to three women) Chairman Ted Evans
  • Aristocrat Leisure (from two to three women) Chairman David Simpson
  • Wesfarmers, Chairman Bob Every
  • Origin Energy, Chairman Kevin McCann
  • Coca Cola Amatil, Chairman David Gonski
  • Computershare, Chairman Christopher Morris
  • Tabcorp, Chairman John Story
  • OneSteel, Chairman Peter Smedley
  • Caltex, Chairman Elizabeth Bryant
  • Spark Infrastructure, Chairman Stephen Johns

The top 10 laggards (by capitalisation)

  • Newcrest Mining Limited, Chairman Don Mercer
  • Fortescue Metals Group Ltd, Chairman Herb Elliot
  • Leighton Holdings Limited, Chairman David Mortimer
  • Oil Search Limited, Chairman Brian Horwood
  • Toll Holdings, Chairman Ray Horsburgh
  • Sonic Healthcare Limited, Chairman Barry Patterson
  • Asciano Group, Chairman Malcolm Broomhead
  • Incitec Pivot Limited, Chairman John Watson

Percentage of female directors on ASX200 companies

 

Percentage of ASX200 companies without a female director

 

Contact Ruth Medd 0419 407 231 or Claire Braund on 0409 981781 on 02 43696006.

Click Here to access the research data.
Note: You will need to be a WOB Subscriber to access the data.