The company behind the national broadband network and Australia Post will be mandated to allocate 40 percent of board roles for women.
According to Federal Finance Minister Penny Wong, gender quotas will be enforced for all government business enterprises, as stated in a discussion with Westpac’s chief executive, Gail Kelly.
This directive indicates that NBN Co, Australia Post, Medibank Private, and the Australian Sports Commission must ensure women occupy 40 percent of their board positions.
“Incorporating gender diversity into board member appointments is a primary aspect of these reforms, necessitating attention from board chairs and responsible ministers,” Senator Wong announced at the Global Banking Alliance for Women forum held in Sydney.
“The government’s aim for women to occupy 40 percent of board roles will instill rigor and serve as a benchmark for measuring our achievements.”
Senator Wong, Australia’s second-ever female finance minister, expressed that this initiative would promote the advancement of women in senior roles.
“I believe the government should take the initiative rather than react concerning gender equality.”
During the 2010 election campaign, Labor committed to achieving 40 percent female representation on public boards by 2015.
Recently, Ms. Kelly dismissed the notion that private sector companies should be compelled to increase female representation on their boards.
