Female appointments to ASX 200 companies surged past 50 per cent in the first quarter of 2018, with more women than men appointed during the period.
It's a historic moment for Australia's top companies and marks the first time that female appointments have exceeded male appointments since the Australian Institute of Company Directors (AICD) began tracking monthly appointment rates.
Of the 56 appointments in the first three months of 2018, 52 per cent have been women. In comparison, 33 per cent of appointments in the first quarter of 2017 were female, and 44 per cent in 2016.
AICD chairman Elizabeth Proust says whilst the figures are promising she warns companies to not be complacent.
"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," says Proust.
"What today's figures hopefully show is that, finally, we are seeing the demand."
Proust continued to emphasise that one woman on a board is not enough to make significant structural change.
"Research shows that one woman alone does not do enough to achieve the full benefits of diversity and rather that three women, or 30 per cent for most boards, is where the magic happens."
"Today's figures aren't a sign that it's time to take the foot off the brake. We will only reach our target of 30 per cent female representation across ASX 200 boards by the end of this year if the female appointment rate remains strong."
Business News Australia
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support