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Singapore is making strides in the field of corporate diversity – especially when it comes to its senior workforce.
A report from Singapore’s Diversity Action Committee (DAC) found the number of directorships (board seats) held by women rose to 448 in 2014 from 406 in 2013 – a 10% increase.
This net increase of 42 women directorships made up a significant 25% of the total increase in directorships (166) in 2014.
Additionally, appointments and new listings grew the pool of women by 91.
At the same time however, 49 women stepped down from their positions over the last year.
“The findings showed that all in all women’s representation on Singapore Exchange (SGX) listed company boards went up slightly to 8.8% as at end 2014 from 8.3% end 2013 and 8% end 2012,” the report stated.
Independent director roles had the greatest net increase in women directorships by 36, while non-independent director roles increased by 6.
The media industry showed the most notable improvement in women leaders. 16% of its directorships were led by women leaders – the highest representation of women on boards.
For the remaining industries, female representation clustered between 6-11%.
“The increased representation of women on boards of SGX listed companies is encouraging,” Magnus Böcker, chairman of DAC, said.
“DAC has embarked on several initiatives working together with other organisations to help companies look beyond traditional sources to bring diversity to listed companies. Though we still have a long way to go, the findings support how a rising number of companies and their boards are taking steps to foster better governance and business performance with a more gender-diverse board.”