Gender diversity on boards sees slight improvement in 2020

Gender diversity on boards sees slight improvement in 2020

KUALA LUMPUR: Gender diversity on boards of listed companies shows minor improvement, with women holding 24.82 percent of board positions on the top 100 listed companies as at Aug 31, 2020, up from 23.68 percent in 2018, according to Securities Commission Malaysia (SC).

It obtained such data from the Corporate Governance Monitor 2020 (CG Monitor 2020) relating to adoption of the Malaysian Code on Corporate Governance (MCCG) by listed companies based on disclosures in their Corporate Governance Reports 2019.

“Based on CG Monitor 2020, the percentage of women on board for all listed issuers are recorded at 16.96 percent compared with 15.69 percent in 2018,” it said in its Annual Report 2020 released today.

It said 682 listed issuers have at least one woman director on the board, up from 634 in 2018, and 772 listed issuers have less than 30 percent women on their boards, compared to 791 in 2018.

“CG Monitor 2020 showed that 150 listed issuers have achieved the target of having between 30 percent and 50 percent of women directors, up from 129 in 2018,” said the SC.

It said the date for listed issuers having more than 50 percent women on boards shows a slight decline, from 16 in 2018, to 15 as of August, 2020.

“The report also revealed the number of listed companies with all-male boards dropped to 255 compared to 296 in 2018.”

SC added that five among 100 top listed companies have all-male boards, namely Comfort Glove Bhd, Focus Dynamics Group Bhd, Frontken Corporation Bhd, Guan Chong Bhd, and Pentamaster Corporation Bhd.

However, as at Dec 31, 2020, Guan Chong Bhd had two women directors on its board while the remaining four companies still have all-male boards, it said. — Bernama

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