Australia Pension Giant Doubles Down on Push for Woman Directors
BAustralia’s largest pension fund is doubling down on its campaign for more women on boards.
With almost all of the top 200 listed companies now having at least one female director, AustralianSuper Pty is raising the bar and pushing for at least two women board members, said Andrew Gray, director of ESG and stewardship at the Melbourne-based fund.
That puts more than a quarter of companies in the benchmark S&P/ASX 200 Index in the A$154 billion ($108 billion) fund’s sights. It has given them until their annual meetings in October-November to show progress, or it will start voting against directors up for re-election, Gray said in an interview.
“Better gender diverse boards will have greater diversity of thought,” which is vital for long-term returns, Gray said.
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