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Law schools and MBA programs have been yielding equal numbers of male and female graduates for 25 years. One would reasonably expect, then, that women would populate Australian boardrooms in large numbers. Yet, only 12% or so of directors are women in Australia and the US, and no more than 3% of public company CEOs or Chairs. Norway, France and Spain have acted to redress their imbalances. They say the only proven method of advancing women into boardrooms in large numbers and in timely fashion is to impose quotas.
In September 2012, the Credit Suisse Research Institute reported that public companies with at least one woman on the board handsomely outperform those with none. This is a game changing revelation. Prime Minister Gillard announced soon after that the Australian government is ‘committed to achieving a minimum of 40% of women in Australian Government Board by 2015’ A quota may be the best way of achieving this.
This document has been peer reviewed.