Women still 'far less likely' to chair company than men: report
The representation of women on the boards of Australia's top companies has seen a notable increase, but the number of female chairs remains significantly low, according to a recent analysis by the Australian Institute of Company Directors (AICD).
As of September 2024, women occupy 37.7% of seats on ASX 200 boards, but only 12.9% of chair roles are held by women.
This is a trend that is also observed in ASX 300, ASX 100, and ASX 50, according to the analysis.
But for ASX 20 firms, the AICD analysis revealed that while women occupy 45% of seats there, there are no women chairs appointed.
Source: Australian Institute of Company Directors
Disparity in board diversity
The disparity raises concerns about the progress of gender equality in leadership positions in Corporate Australia, as it demonstrates the slow pace at which women are being appointed to chair positions despite the increase in the number of women directors.
In fact, only 15 out of 49 chair appointments within the ASX 200 went to women over the past year, according to the analysis.
"Despite some progress in the percentage of women being appointed as chairs of ASX 200 companies, they are still far less likely to chair a company than men," said Mark Rigotti, Managing Director and CEO of the AICD, in a statement.
Nicola Wakefield Evans, chair of the 30% Club Australia, said one contributing factor to the disparity is that former CEOs remain a key target for new board positions and particular chair roles.
"We need to do more to understand why the progress made at the broader board level is not translating to chair appointments," Evans said in a statement.
"Until we address the significant underrepresentation of women CEOs at our top companies, I am concerned that the chair statistics will continue to significantly lag overall director appointments."
The 30% Club is an organisation established in 2015 advocating for greater representation for women in leadership positions at top firms across the world.
