Melior calls for leadership role gender targets

melior investment management melior gender diversity gender equality ceo board

8 September 2021
| By Liam Cormican |
expand image

Australia is in danger of falling behind overseas markets if it does not improve its gender equality in executive leadership roles given investors are placing greater emphasis on it as investment criterion, according to Melior Investment Management.

Melior said it welcomed calls for gender targets to increase the number of women in executive leadership roles at Australia’s top 300 listed companies.

Merlior chief executive, Lucy Steed, said: “Australian companies need to act now on gender diversity as investors globally are increasingly placing greater emphasis on balanced executive leadership as a core investment criterion.

Melior pointed to Chief Executive Women (CEW) data which showed just 6% of ASX300 companies had female CEOs.

The data also showed representation of women at senior executive levels had made virtually no progress in five years.

According to the data, only one out of 23 CEO appointments in the ASX300 was a woman.

The data also found most CEOs in 2021 were appointed from line roles with profit and loss accountability and only 14% of those roles in the ASX300 were made up of women.

The findings prompted a recommendation from CEW that targets were the best way to accelerate greater gender diversity in senior executive ranks at Australia’s biggest companies.

Melior’s head of advocacy strategy, Julia Bailey, said targets provide companies with a positive framework to improve gender balance and create better outcomes for staff.

“From an investment perspective, we certainly look to gender balance as a key indicator of the potential for superior returns,” said Bailey.

Read more about:



Recommended for you



sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

Chris Cornish

By having trustees supervise client directed payments from their pension funds, Stephen Jones and the federal Labor gove...

2 days 23 hours ago
Chris Cornish

Now we now the size of Stephen Jones' CSOLR tax, I doubt anyone will be employer any new financial adviser from this poi...

2 days 23 hours ago

Amazing ! Between the beginning of licencing Feb 2002 and 2008 this was a very good stable industry.Then the do-gooders...

3 days 18 hours ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

10 months 2 weeks ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

10 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

10 months 2 weeks ago