The Australian Council of Superannuation Investors (ACSI) has given the ASX 200 companies that don't currently have a single woman on the board an ultimatum, after the 2015 target was announced: at least 30 per cent of boards should be comprised of women. Diverse boards provide better investment outcomes, is the running premise.
ACSI's members are super funds who own about 10 per cent of the average ASX 200 company. The recommendation is to vote against sitting directors in 2017 if the target isn't met. Ten per cent of the boards on the ASX 200 are still all men, with over half the firms having at least 25 per cent representation. ACSI has contacted each company to discuss the issue.
The research is out and it's clear: having women and men making decisions improves the bottom line.
Leading financial services researcher covering Managed Funds, Retirement and Life Insurance in Australia.