NE BUSINESS BUREAU
NEW DELHI, DEC 8
India fared better than Asia as a whole in gender diversity in both executive and non-executive chair roles, according to a survey by leadership advisory firm Egon Zehnder.
Egon Zehnder’s 2020 Global Board Diversity Tracker noted that between 2012 and 2020, India has seen an 8.6 percent increase in the percentage of women onboards, with women holding 17 percent of board positions in 2020.
“India fared better than Asia as a whole in the diversity of both executive and non-executive chair roles, with 5 per cent of executive chair roles filled by women in India and 10 percent of non-executive chair roles,” Egon Zehnder said.
Asia’s average in women”s executive chair roles stood at 2.6 percent and for non-executive chair roles, it was 5 percent, respectively.
Globally, women now make up 27.3 percent of all board committee leaders globally, up from 25.5 percent in 2018.
This year’s report analysed data from 1,685 companies across 44 countries with a combined market capitalisation of more than USD 48 trillion.
“The results are clear– while there is progress in gender diversity globally, the rate of change is insignificant. Despite increased attention to diversity and inclusion that has sparked conversation and movement, making tangible progress is still challenging,” Egon Zehnder said in a statement.
This year, 89 percent of major companies globally have at least one woman on their board, up from 85 percent in 2018. While, in India, that number is higher, with 96 percent of companies having at least one woman on their boards, as per the survey.
Moreover, between 2012 and 2020, India has seen an 8.6 percent increase in the percentage of women on boards, with women holding 17 percent of board positions in 2020.
The survey noted that 18 countries, up from 13 in 2018, have on an average three or more women on the boards of their largest companies globally. In India, 23 percent of large company boards average at least three women, up by 10 percent from 2018.
“Today, we see attention and acknowledgement that we need more diverse boards; however, diversity spans far beyond gender,” said Jill Ader, chairwoman of Egon Zehnder.
Ader further noted that “it is now more important than ever to move beyond traditional D&I metrics – and prioritise building teams that are representative of all different backgrounds”.
She added that board leaders have the power to modernise governance with a few bold steps. “Change is within our grasp.”
Globally, new board appointments made up 13.5 percent of all board positions in 2020, up from 11.4 percent in 2018. Of that number, 30 percent were women, up from 27 percent in 2018.
In India, women comprised 16.3 percent of new board appointments.
“In reality, this means that only 4 percent of all directors are women new to the board, only a 0.9 percent increase from 2018,” Egon Zehnder said.
