Women are holding 30.6% of board seats in the top 100 public listed companies (PLCs) in Malaysia, and close to 25% of seats of all PLCs on Bursa Malaysia, the 30% Club Malaysia said.
The 30% Club Malaysia is part of a global campaign led by chairs and chief executive officers taking action to increase diversity, equity and inclusion (DEI) at the board and senior management levels.
In a statement today, it said that the achievement, based on data provided by the Securities Commission, was achieved on June 1, 2023 – six months ahead of 30% Club Malaysia’s target date of December 31, 2023.
The 30% Club Malaysia founding chair and Maybank Group advisor Datuk Ami Moris (pic) said the 30% representation is a tipping point in providing women leaders with an influential voice, and for boards to move closer to gender parity.
“The biggest jump in women on board representation was recorded from 2021 due to Bursa’s Listing Requirements for all PLCs to have at least one woman director by June 1, 2023, supported by the collective action of leaders on DEI,” she said.
Building on the diversity momentum, Ami said the 30% Club aims to further catalyse more PLCs to achieve 30% women representation on boards.
As of June 1, 2023, 45 of the top 100 and over 700 of all PLCs have yet to do so.
In the United Kingdom, she said women now hold nearly 40% of board seats of the Financial Times Stock Exchange 100 companies.
“Our next target is for parity of men and women on all PLCs by 2030. It is a huge ambition, but not one that we shy away from,” Ami noted.
She said as more companies embrace DEI, the demand for board-ready women candidates is set to accelerate.
“I would urge companies to move from mentoring to sponsoring women leaders in the boardrooms and senior leadership.
“This involves more active and concerted efforts to get women with the right competencies and skillsets to the right seats,” he added.
