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  • Writer's pictureDavid Brine

Board Diversity Index Report 2023

Updated: Oct 9, 2023

"Australian boards seem stuck. They’re still generally “too male, too pale and too stale”, despite plenty of advocacy for diversity on boards over the years...."

The 2023 Board Diversity Index from Watermark Search International and the Governance Institute of Australia was published in April 2023. This latest snapshot of Australia’s boardroom diversity has found a small but positive improvement in the representation of First Nations’ people in the nation’s top companies but that broader cultural and ethnic diversity continues to stall.

Mark Baxter, co-founder of the Australian Association of LGBTQ+ Board and Executive Inclusion (ALBEI) provided additional context to this year’s Index and says that self-disclosure from some minority groups is an issue:

"ALBEI estimates between 10-15 people who identify as LGBTQ+ are currently on ASX200 boards, though we don’t have enough data to work with yet,' he said. 'Some of our members, particularly men, are reluctant to disclose, fearing career repercussions due to the sense that ‘traditionally masculine leadership’ is more desirable."


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