ASX 200 female board participation rises

New data out today shows female participation on ASX200 boards has increased to 27.7 per cent in May, however five companies, including Perth-based Ausdrill, still have no female directors.

The latest figures, released by the Australian Institute of Company directors, also reveal that women account for 30 per cent of board positions across the top 100 ASX companies.

The year-to-date female appointment rate for ASX 200 boards stands at 49 per cent, dropping below 50 per cent for the first time since January due to fewer women being appointed over May.

AICD chairman Elizabeth Proust said while the quarterly results showed positive progress towards the target of achieving 30 per cent female representation across ASX 200 boards by the end of 2018, the figures for May were cause for concern.

“The AICD set our 30 per cent target in 2015 because of the strong body of evidence showing that diverse boards lead to better outcomes for shareholders and stakeholders alike,” she said.

“The obstacle to achieving this target has long been one of demand, not of supply.

“Australia is not lacking for talented and experienced women, and the breadth and depth of experience of female appointees in 2018 is evidence of that.

“However, even with the current year-to-date female appointment rate of 49 per cent, achieving the 30 per cent target by the end of this year will be tough.”

Iron ore miner Fortescue Metals Group has the equal highest female board participation rate of any top 200 ASX company, with 55 per cent female representation.

Aside from Ausdrill, Kerry Stokes-led Seven West Media has only one female board member, which equates to 10 per cent female representation.