For Immediate Release

May 18 2012

Global Women Call for Action on Diversity

The Chair of New Zealand Global Women, the Right Honourable Dame Jenny Shipley, is calling on the NZX to follow the Australian lead and make reporting on gender diversity mandatory for listed New Zealand companies.

“It is time,” says Dame Jenny. “We said last year that we would accept nothing less from the NZX than transparent public reporting on diversity. We say today they need to do it now.”

There is clear evidence in Australia that diversity reporting has helped boost the number of women in both management and governance roles. In the past year a third of all new board appointments to ASX200 companies have been women, compared with just 5 percent in 2009.

The percentage of women directors in the ASX 100 now stands at 17.3% up from 13.4% and nearly double the number in this country where the top 100 companies have only 9.3% of female directors.

“This is just another example of New Zealand falling behind Australia,” says Dame Jenny. “Diversity is not a nice to have, but a must have to lift economic growth, productivity and ultimately New Zealand’s prosperity.”

The NZX itself says: ‘There is credible research based evidence which suggests that diversity in a variety of forms, and gender diversity in particular, contributes to improved performance at both board and senior management level. It promotes diversity of thought which stimulates more innovative problem solving and may promote identification and better management of risk.’

The NZX has been seeking submissions on proposed changes to the reporting requirements, with submissions closing at the end of the month.

Global Women is collaborating with a range of private and public organisations to develop a diversity framework and tools for companies to implement strategies that will build diversity within organisations.

As part of that commitment Global Women is hosting former Air New Zealand and Commonwealth Bank of Australia CEO, Sir Ralph Norris who will speak at a business breakfast in Auckland on Monday morning. (21/5) Sir Ralph is a member of Australian leaders Male Champions of Change, who have banded together to promote women in leadership.

About Monday’s event

Global Women and sponsor partners Deloitte, Westpac, IBM and Microsoft are hosting the event with Sir Ralph Norris who will address the Australian experience – what happens when business leaders grasp the game changing potential of gender diversity?

Sir Ralph will address the groundswell of support for gender diversity in the Australian business sector and provide insights and practical guidance for business leaders on how to harness the potential of gender diversity.

The event is being held at the Heritage Hotel 35 Hobson Street Auckland. Media need to arrive by 7.15am.

Quick facts

The latest Grant Thornton survey shows New Zealand women in senior management positions have slipped from 31% in 2004 to 28% in 2012. Only 5% of CEO roles are held by women, compared with 30% in Australia.

A study conducted by global executive search firm Korn/Ferry Institute found that there were more New Zealand boards with no women directors than in seven Asia-Pacific countries surveyed. Of the top 100 boards by market capitalisation in Australia, China, Hong Kong, India, Malaysia, New Zealand and Singapore 65% of New Zealand boards had no women directors compared with 29% in Australia; 39% in China; 43% in Hong Kong; 57% in India; 56 % in Malaysia; and 59% in Singapore.

About Global Women

At a time when New Zealand is experiencing an under-representation of women in senior positions and on New Zealand boards, Global Women is a catalyst to help transform NZ Inc. and promote women leaders.

Since launching in 2009 membership has grown from 75 to 150 of the most influential women leaders in New Zealand, 20% of them operating globally. Global Women has matured to represent a broad cross section of leaders - from the private to public sector; corporate, not-for profit, small business, entrepreneurs, rural and international.
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