CBD PRESS RELEASE
Women’s Representation on Boards of SGX-listed Companies, as at December 2018
Top 100 primary-listed companies doubled women’s participation on boards
- Women’s participation in boards of the Top 100 primary-listed companies (“Top 100 companies”) rose further to 15.2% as at end December 2018. The Top 100 Companies continued to outpace the market. Compared with Dec 2013, before DAC was formed, this is a doubling of the women’s participation on boards (“WOB”).
More companies with women on boards, fewer all-male boards
- As more companies see the benefits of women on boards, the proportion of all-male boards in Top 100 Companies halved from 50% before DAC was formed to 25% as at December 2018 (Figure 2a).
- As at December 2018, 48% of companies have all-male boards, from 50% in end 2017. (Figure 2b)
- 38 of the Top 100 Companies have achieved at least 20% WOB, the first level of DAC’s triple-tier target.
Appointments of women board directors was the highest on record for 100 largest companies
- Women made up 24% of board appointments in 2018, the highest on record, for Top 100 Companies.
- For all SGX-listed companies, women made up 13% of board appointments in 2018, similar to 2017.
New board seats mostly filled by men in 2018
- Among first-time directors for Top 100 Companies, 30% were women and 70% were men, similar to previous year.
- For all SGX-listed companies, 14% were women and 86% were men.
Board renewal opportunity for companies that have independent directors with tenures of 9 years or more
- 40% of Top 100 Companies have at least 1 independent director that had served at least nine years. There are 91 of such directorships. 15 have served longer than 20 years.
- Similarly, 47% of all SGX-listed companies have at least 1 independent director serving nine years or more. There are 654 of such directorships. 83 have served longer than 20 years.
International comparison
12 gender diverse boards within the Top 100 Companies added more women
5 all-male boards within the Top 100 Companies added women
List of Top 100 Companies’ WOB as at 31 December 2018
Diversity on boards approaching a momentous milestone
The diversity of Singapore boards is approaching a momentous milestone, and with it a timely opportunity to set our course...
How organisations can survive in an unpredictable world – even black swans