ASX300 boards improve on gender, but still some way off 40%

The proportion of female directors on ASX 200 and 300 boards has reached an all-time high, but is still well shy of the 40%, the Australian Institute of Company Director’s (AICD) latest gender diversity report shows.
At the end of February 2022, 34.5 per cent of directors on ASX200 boards and 33 per cent of directors on ASX300 boards were female.However, there are still 66 ASX200 companies and 127 ASX300 companies that haven’t reached 30 per cent female directors.

Claire Braund, Executive Director of Women on Boards, said that this shows that companies listed at ASX150+ continued to be the least female friendly zones when it came to female directors.

"Since 2010 the ASX100 has been a sector leader in appointment of women to boards, which then flowed to the ASX200, but is proceeding very slowly for the ASX300. Beyond the ASX300, the rest of the All Ordinaries is something of a wasteland when it comes to female board members."

Ms Braund also said it was concerning that in February 2021, there were 123 ASX200 companies with women on their boards, but by comparison, it has taken 12 months to add just 11 more companies to the list, indicating a slowing down of boards achieving the minimum 30 per cent representation threshold.

Number of ASX200 Boards with 30% Women or More

  Feb 19 Feb 20 Feb 21 Feb 22
ASX200 89 100 123 134
ASX300 109 120 162 174

The AICD’s most recent Director Sentiment Index indicates that boards are well aware of this challenge, with 51 per cent of directors indicating that they are seeking a greater balance of gender on their board.
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