Gender diversity under consultation by NZX
BUSINESSDESK: Stock exchange operator NZX is seeking feedback from its members on a proposal to include gender diversity are part of its annual reporting.
If the proposal is accepted, members will be required to disclose the gender composition of their boards and senior management teams, and to provide information on their diversity policies.
“International evidence shows that companies with diverse senior management teams and boards perform better,” Minister of Women's Affairs Jo Goodhew said.
“Having more women in leadership roles provides a wider range of views in key operational and strategic decisions.
“It also results in companies having stronger connections with customers, shareholders and investors,” she said.
Women hold about 9% of private sector directorships in New Zealand. The majority of NZX 100 companies have no female directors, while women account for 21% of management positions reporting directly to chief executives.
The NZX has also proposed changes to reduce compliance costs for employee share schemes and to assist companies raising capital.
The closing data for submissions to the exchange is May 30.
Shares in the NXZ have gained 24% this year and are trading at $2.80.