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Minister welcomes NZX consultation on diversity rule

Fuseworks Media
Fuseworks Media

An NZX proposal to introduce a new diversity rule for its members is welcomed by Women's Affairs Minister Jo Goodhew.

"This initiative from NZX will help increase diversity in the leadership of New Zealand companies," says Mrs Goodhew.

"Diversity in leadership is important for building and sustaining New Zealand's competitive edge in an increasingly challenging and volatile global market."

NZX is consulting with its members on a proposal to include gender diversity in their annual reporting. If the proposal is accepted, members will be required to disclose the gender composition of their governance boards and senior management teams and provide information on their diversity policies.

Mrs Goodhew says the proposals will encourage companies to think about the range of experience and perspectives they need in the leadership of their companies.

"International evidence shows that companies with diverse senior management teams and boards perform better. In other countries diversity is increasingly being recognised as a priority for business success and credibility.

"Having more women in leadership roles provides a wider range of views in key operational and strategic decisions. It also results in companies having stronger connections with customers, shareholders and investors."

At present women hold 9.3 per cent of private sector directorships in New Zealand. The majority of NZX100 companies have no female directors and women account for 21 per cent of management positions reporting directly to chief executives.

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