WOB eNews: December 2009

As we move into the traditional holiday season Women on Boards warmly acknowledges the support and encouragement you have given us this year. Thanks to the hard work and efforts of many, gender diversity in now firmly on the agenda across many boardrooms in Australia. Particular mention goes to Liz Broderick (Sex Discrimination Commissioner), Catherine Fox (author & AFR columnist), Lynn Ralph, Helen Lynch and the other ASX100 male and female directors who have spoken on the public record and the WOB network. Women on Boards will remain a focal point for action on the critical business and social issue of increasing gender diversity on boards in 2010.

Our heartfelt thanks to Louise (WOB events), Kate(corporate membership), Denise (mentoring), Simone & Julie (conference) and Roger (WOB web system and innovations) for their support in 2009.

To view the 2010 Events Calendar go to: http://www.womenonboards.org.au/my/events/

1. Diversity on the a-gender

Diversity has been hot on the agenda since being given a kick start by our 2nd Diversity on Boards Conference in September.  At the conference, delegates heard first hand how Norway's experiment with quotas had boosted the proportion of  women on boards from seven per cent to 40 per cent in five years. Arni Hole, the director-general of Norway's Ministry of Children and Equality, declared that quotas had ''changed the mental images of women's abilities and possibilities forever''.

Elizabeth Broderick also spoke at the conference, in a speech supportive of targets and quotas. She labelled the Australian situation a ''national outrage'', and dubbed the lack of senior women in corporate ranks a ''market failure''. ''Quotas are one way of bringing women's merit out into the open,'' she said. Broderick has since called on companies to set themselves three and five-year targets for gender diversity, and for quotas to be considered if no progress followed.

In recent months, several female business leaders have called for, at the very least, a debate about targets and quotas. Margaret Jackson, former Qantas chairwoman, spoke out in October, saying companies should set voluntary targets for female board members. ''If we don't get there, let's set quotas,'' she told the ABC. Helen Lynch, a veteran company director, recently reaffirmed her stance against quotas but said she respected the opinions of the ''growing number of women'' who supported them.

In November, the AICD launched its gender initiative, calling on companies to set voluntary gender diversity targets. In December the ASX announced its proposed changes to the ASX Corporate Governance Principles and Guidelines to require each entity listed on the ASX to adopt and disclose a diversity policy that includes measurable objectives relating to gender. The ASX's new corporate governance guidelines will be sent out for consultation, with the aim to introduce them on 1 July 2010. Click here for the details.

A week later, a Goldman Sachs report found that closing the gap between female and male employment across all sectors would boost Australia's gross domestic product by 11 per cent.

On the Government front, Victoria's Attorney-General Rob Hulls, who has been pursuing the matter for some time, wrote twice this year to Australia's biggest listed companies, calling for a ''workable solution'' to an ''embarrassing'' situation. Tony Burke, Federal Minister for Agriculture, has also been pursuing the issue with boards funded by matching R&D contributions.

Congratulations to all those who have worked behind the scenes to pursue this critical issue. For a snapshot of the media on this browse the following links

Adelaide Advertiser - Companies Fail to Appoint Women Board Members
http://www.news.com.au/adelaidenow/story/0,22606,26454978-5006301,00.html

Australian Financial Review 16 Dec 2009 - Women losing the board game
http://www.womenonboards.org.au/pubs/afr091216.htm

Financial Standard - Boardrooms lack female directors
http://www.financialstandard.com.au/news/view/27502/

The World Today - ABC Radio
http://www.abc.net.au/worldtoday/content/2009/s2765024.htm

2. Keeping the boardroom honest - the WOB Diversity Index

In November, WOB launched a new campaign to kick start effective measurement and reporting of women’s participation on boards. The Boardroom Diversity Index will track the number of women on the boards of ASX200 companies, credit unions, superannuation funds, national sporting bodies, top government business boards, Cooperative Research Centres and the rural research and development corporations. The aim of the Index is to encourage better performance across these important sectors. Click here for all the details - and the first index of ASX200 companies

 3. My Mentoring

WOB provides pathways to directorship and offers a range of opportunities and activities to suit each person depending on their level of board experience, capacity to confidently market themselves, the quality of their network in accessing vacancies and time available they have to allot to seeking directorships.

These pathways have now been supplemented by My Mentoring using the services of 10 senior WOB members. More information about this program is at: http://www.womenonboards.org.au/professional-development/mymentor/index.htm

4.WOB Engagement  

2009 has seen WOB engage in the policy debate about women in the workplace, in leadership roles and on boards. It has become clear that there is an accumulation of lifetime disadvantage for women employees which impacts both on the women themselves and the Australian economy generally.

ASX Corporate Governance Council recommendations on diversity
Women on Boards welcomes the announcement  by the ASX Corporate Governance Council of a proposal to expand the Corporate Governance Principles and Recommendations to require each entity listed on the ASX to adopt and disclose a diversity policy that includes measurable objectives relating to gender. See http://www.womenonboards.org.au/news/asx091207.htm

EOWW Review
WOB's submissions advocated the EOWW legislation be changed to require EEO outcomes rather than encouragement for EEO activity.   We focus on the need for targets and other KPIs that will measure outcomes. Submissions have closed.   Response awaited from the review team.  See  http://www.womenonboards.org.au/pubs/

Kirsten Mander
Kirsty is participating in the Consultative Panel on Director’s Personal Criminal Liability for Corporate Fault.  The panel is preparing a submission to go to the Ministerial Council on Corporations (MINCO), at the request of Chris Bowen, the Federal Corporations Law Minister. MINCO is advising COAG on the adequacy of principles to guide the reform of provisions imposing deemed liability on directors.  

This issue has been placed on COAG’s agenda due to a trend in Australian legislation towards deeming directors liable where their company has breached the law. This trend has highlighted a number of problems including whether deemed liability can be justified as a commonly used form of liability, inconsistencies in the formulation of liability provisions and the effects of this on facilitating compliance. 

5. Using the WOB website - before contacting us look at Help on the website

5.1  Your Dashboard

More changes have been made to the page that comes up once you login  - My Dashboard.  If you have forgotten your login userid and password then click Forgotten Password. 

5.2 Contact Details

It is your responsibility to keep your contact details and email address up to date. You details will come up when you register for an event - you are asked to confirm them. This should make it easier to keep your details up to date.  To access your details from My Dashboard - click 'profile' in top right hand corner.  

5.3 Vacancies

Access to posted vacancies is now easier.  The page of current vacancies comes up immediately after clicking View Positions from My Dashboard.  The vacancy list is sortable. Additional fields have been added.   If you want access to past vacancies then click Search.

The weekly vacancies email has now been automated and includes the  vacancies posted that week followed by other current vacancies.   

5.4 My Resume

Enhancements will be introduced to My Resume in early January.. My Resume will be off line during this upgrade. You will be advised,

6. The Boardroom

Director Vacancy postings are keeping up prior to Christmas break.  At writing there were 20 oportunities with a good number closing in January. We have introduced the option to post a private vacancy - more of this in January. Please continue to spread the word that we provide a free posting service and the exceptional women on our database. The link for more information is: http://www.womenonboards.org.au/vacancy/index.htm 

On Board success stories: 

  • Sue Davey has been appointed as the Secretary /Treasurer of Melbourne NFP One In Five
  • Leeanne Bond has joined her first ASX listed company.  It is Liquefied Natural Gas Limited which listed on the Australian Stock Exchange on 14 September 2004.  LNG brings a new concept to the international energy market in providing an "Energy Link" between stranded and flared proven gas reserves and existing LNG buyers as well as niche energy markets. The  LNG business model is based on the development of highly efficient small and mid scale liquefied natural gas ("LNG") plants located near the gas reserves then shipping or trucking the LNG to the identified markets, secured by long term LNG sales agreements.  Congratulations to Leeanne - her profile is at http://www.womenonboards.org.au/subscribe/profiles/index.htm.
  • Sue Avery has been appointed to the National Board of the Australian Association of Volunteer Administrators and the Board of the YWCA of Adelaide. 
  • Margie Haseltine has been appointed to the recently advertised AgriFood Skills Board.  
  • Michele Allan has been appointed as Chair of Go Grains Health and Nutrition Limited, a position only advertised on WOB. 
  • Sarah Richardson has been appointed a Director of WA based Workability, an innovative charity that supports people with disabilities
  • Lucy Prior has joined the boards of Odyssey House McGrath Foundation and Cape Credit Union 
  • Dr Kay Pearse joined the Board of GP Partners, advertised with WOB in June 2009.
  • Bronwyn Evans, Senior Executive at Cochlear has been elected as chair of the MTAA (Medical Technology Association of Australia)
  • Debra Hazelton recently became the first woman on the Board of AFMA (Australian Financial Markets Association)
  • Anne Casey has been appointed by the Victorian Minister for the Environment to the Alpine Advisory Committee which is advising Parks Victoria on the review of numerous management plans for alpine parks across the state.  Of a committee of 16 there are 4 women.

 More details at http://www.womenonboards.org.au/boardroom/onboard.htm

7. Profile of the Month

Sarah Richardson was recently appointed a Director of WA based Workability.  Sarah's profile has been updated to follow her directorship journey. Read her profile at   http://www.womenonboards.org.au/subscribe/profiles/index.htm 

8. Supported Events & Activities

Supported activities are at: www.womenonboards.org.au/events/external/index.htm