IF you were a woman on the board of any of Western Australia's top 100 ASX-listed companies, you'd be in rare company.
IF you were a woman on the board of any of Western Australia’s top 100 ASX-listed companies, you’d be in rare company. There are just 16 females out of more than 561 directors in this field, of which only 10 live in the state.
The numbers, calculated by the Australian Institute of Company Directors, show WA is significantly behind the national average, which itself is low in comparison to other leading countries.
Both the AICD and the ASX have highlighted the issue in recent weeks, advocating efforts to increase diversity on boards, especially with regard to gender balance.
While Australia has performed poorly, with women representing just 8.3 per cent of directors of the ASX top 200 listed companies, WA is clearly a basket case.
Women represent just 2.59 per cent of directors at the top 100 ASX-listed companies that form the Deloitte WA Index. For the top 20 in WA it’s 4.1 per cent, rising to 5.2 per cent for the top 40.
Industrial and retail giant Wesfarmers is the only company in the state’s top 100 to feature two women on its board – Patricia Cross and recently appointed Diane Smith-Gander, a resident of Perth. They represent 20 per cent of the Wesfarmers directors, which also has the biggest board in the state.
The WA chapter of the AICD remains opposed to any mandatory quota system but has reacted to the issue by establishing a diversity sub-committee within its council to focus on education and event opportunities next year.
It will also be running a mentor program in WA.
The 10-member WA council of the AICD has two women – Valerie Davies and Gaye McMath.
AICD WA council immediate past president Fiona Harris said it appeared that the failure of women to rise through the executive ranks was a key reason for their lack of numbers in the male-dominated pool of directors.
“A large number of people on boards believe that the best eligibility for board membership is being a former CEO,” Ms Harris said.
She said boards were not trying hard enough to develop the diversity needed to deal with the growing breadth of governance issues.
“It is not that hard, there are whole groups of women out there,” Ms Harris said.
The AICD statistics also show that big numbers of women are completing its courses, signalling both the willingness and ability to take up directorships. About 20 per cent of AICD’s members are women, 28 per cent of course participants are female and women are more likely to finish the course than their male counterparts.
