A critical element of Board effectiveness is diverse and equitable composition. The percentage of women being appointed to ASX 200 boards has fallen in the first half of 2017, according to a report released in June 2017 by the Australian Institute of Company Directors.
The drop in female appointments means the AICD’s target of achieving 30% female representation across ASX 200 boards by the end of 2018 may be slipping out of reach.The Quarterly Gender Diversity report shows the monthly rate of female appointments to ASX 200 boards has declined from 44% in 2016 to just 30% in 2017. This equates to 17 female appointments compared to 40 male appointments in the first five months of 2017.
On a positive note, the report shows that the number of ASX 200 boards that have reached the 30% target has risen to 71, more than double the number that had reached the target two years ago. Women also make up 25.4% of ASX 200 directorships.
The WiT Board ReadinessTM Program aims to address these issues by building the calibre of candidates available for Board selection. Participants are equipped with skills required to become highly effective Board members and an opportunity to showcase their skills to some of Queensland's highest profile organisations.
Although there a number of programs promoting the importance of Board diversity and promoting redressing of the gender imbalance at Board level, WiT’s program offers a unique and broad ranging mix of practical advice, mentoring and opportunities for networking. The program is also unique in its recognition of the importance of technology skills at Board level.
A key part of the program is an invitation only Industry Luncheon attended by senior executives, Board Directors and senior representatives from the Queensland Government. The aim of the luncheon is to provide the participants in the program with an opportunity to meet and network with members of boards and senior executives across the corporate, government owned and not-for-profit sectors.
Our 2016 Graduates