ACSI has been taking action to try and bolster progress towards its target of 30% female board representation on ASX 200 company boards by 2017. However, the likelihood of achieving the target on time seems slim.
The Australian Council of Superannuation Investors (ACSI) is closely scrutinising ASX 200 companies with poor female board representation in the run up to the 2015 AGM season.
The move follows the launch in February of ACSI’s new policy which aims to lift female representation on the boards of ASX 200 companies to at least 30% by the end of 2017. ACSI has written to the chairs of more than 30 ASX 200 companies which are yet to appoint a female director, or which still have only one female director, reminding them of the 30% target.
So far in 2015, women represent barely more than one director in every 4 in ASX 200 companies which, according to ACSI, suggests that it will be well into the next decade at best before ACSI’s 30% target is reached.
See media release dated 10 July 2015.