New figures released this week by the Australian Institute of Company Directors show that more women than men have been appointed to ASX 200 boards in the first quarter of 2018.
This marks the first time that female appointments to ASX 200 boards have exceeded male appointments since the AICD began tracking monthly appointment rates.
Of the 56 appointments to ASX 200 boards in the first three months of the year, 52% have been women.
This compares to 33% female appointments in the first quarter of 2017 and 44% over the first quarter of 2016.
AICD Chairman Elizabeth Proust AO welcomed the figures but warned against complacency.
“When it comes to increasing gender diversity on Australia’s largest boards, we know that it’s never been a supply problem, it’s been a demand problem,” she said.
“What today’s figures hopefully show is that, finally, we are seeing the demand.
“Research shows that one woman alone does not do enough to achieve the full benefits of diversity and rather that three women, or 30% for most boards, is where the magic happens.
“Importantly, today’s figures aren’t a sign that it’s time to take the foot of the brake. We will only reach our target of 30% female representation across ASX 200 boards by the end of this year if the female appointment rate remains strong.
“Greater gender diversity on our boards is crucial to the future of good governance in this country.”