Asia-Pacific economies make slow progress in bringing women to company boardrooms

Women make up 24 per cent of company boardrooms around the globe this year, up from 15.1 per cent in 2015, but progress remains slow in may parts of Asia-Pacific, according to Credit Suisse Research Institute

Gender diversity will create diverse thinking in the boardroom, says Christina Gaw of private equity firm Gaw Capital

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The representation of women on company boards is steadily rising, but much more needs to be done, say executives. Photo: Shutterstock

Published: 12:30pm, 3 Oct 2021Updated: 8:36am, 11 Oct 2021

Boardroom gender diversity continues to improve globally, but Hong Kong, China and other Asian economies lag behind, as industry players acknowledge there is still work to be done.

Women make up 24 per cent of company boardrooms around the globe this year, up from 15.1 per cent in 2015, according to a report by the Credit Suisse Research Institute (CSRI) on broadening diversity discussion.

However, women account for a much smaller percentage of directors in Hong Kong-listed companies at only 13.7 per cent, according to The Women’s Foundation, a non-profit organisation dedicated to improving the lives of women and girls in Hong Kong.

“Females are not less qualified than males. But in real life, it is too easy for people to just invite friends on board,” said Christina Gaw, the managing principal and head of capital markets at Hong Kong-based private equity firm Gaw Capital Partners.

The top 50 companies on the Hang Seng Index filled 24 per cent of their 42 open director seats with women last year, compared with just 6 per cent in 2019. Photo: AFP

The culture or the DNA of companies has to change and women have to be given more opportunities, she added.

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