Firing line for boards without women

19 October 2016
| By Jassmyn |
image
image
expand image

Members of companies without women on their boards will be recommended to oppose the re-election of existing directors in 2017 by the Australian Council of Superannuation Investors (ACSI).

ACSI adopted a target for women to comprise 30 per cent of all ASX200 boards by the end of 2017, based on the belief that skilled and suitably diverse boards make for better-governed companies.

Currently, 17 ASX200 companies do not have women on their boards and 63 have just one female director..

ACSI chief executive, Louise Davidson, said: "This is not an issue we take lightly, and we sincerely hope that by the time of next year's annual meetings no companies will be in the firing line".

With more than half the companies in the ASX200 with at least 25 per cent women on boards, 2016 had the highest rate of female appointments at 40 per cent.

"ACSI recognises that company directors must be suitably skilled, and an appropriate fit with a board. Identifying the right candidates takes time," she said.

"Companies that still have no women directors, or even worse, no plan to achieve that 30 per cent target, are running out of time and are at serious risk of votes against sitting directors in the near future."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago