Firing line for boards without women
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."
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.