STATUS OF GENDER ON JSE-LISTED BOARDS – FIVE YEAR REVIEW

A study of the opportunities for gender balancing the boards of companies listed on the Johannesburg Stock Exchange.

The report was conducted by Business Engage Association NPC and the 30% Club Southern Africa, and sponsored by Nedbank, Kearney, DBSA, and the Institute of Directors South Africa.

After five years of research into the Integrated Annual Reports of companies listed on the Johannesburg Stock Exchange, Business Engage is of the opinion that the JSE listing requirement, to have a gender policy at board level and to advise stakeholders accordingly, has had a positive and sustainable effect on the appointment of women to the boards and committees of JSE-listed companies.

Business Engage further acknowledges the impact that the various iterations of the King Codes have had in creating a conducive environment for this advancement.

In line with our report on the Status of Gender on JSE-Listed boards, in 2023 we will be expanding this to non-listed boards and will be having C-Suite engagements on how we as a collective may implement focussed initiatives to move the percentage of women in senior positions and on boards. Our first engagement will be hosted at Alexander Forbes on 14 March 2023, 08h30 for 09h00-11h30. We will have round table discussions and each table will be hosted by a C-Suite representative of large and listed businesses. Please book diaries of those C-Suite individuals that would make these discussions meaningful and impactful. The format and a full brief will follow.

There Are A Few Negatives

01. Lack of female CEO’s.

02. The number of all male boards.

03. Lack of communication with stakeholders.

That said the movement over the past five years has been generally positive.

STATUS OF GENDER REPORT - 5 YEAR REVIEW

Report Launch Event - DBSA

Briefly The 2021 Status Is

41 companies did not specifically report on gender at board level in 2021. This is 17% down on the previous year.

There were 35 opportunities for women on boards.

27 companies had set targets. 56 had met their targets.

Parity has been achieved in 27 companies, which has plateaued out.

No women on boards reduced to 17 from 32 the previous year.

The Non-executive Directors male / female ratio has improved to two thirds / one third.

Of the companies surveyed, 18% have female chairs and 24% have female Lead Independent Directors.

Interestingly, the average age of the female NED’s is 53 whilst male aged averaged 60.

On the global front in February 2022 the FTSE Women Leaders Review in the UK noted some of the effects of Covid. Homeworkers worked consistently more hours than non-homeworkers, further research also showed 28% of women in the UK reported an increase in domestic caring responsibilities due to the pandemic (vs. 16% men).

Those working from home with increased caring responsibilities were less likely to do so under conditions conducive to high productivity. Furthermore, the pressures have resulted in women leaving the workforce, which if left unchecked, could reverse progress made in recent years.

Despite these challenges, data collected as part of the FTSE Women Leaders Review show the proportion of women in senior Leadership roles continues to rise across the FTSE 350, even in hard-hit sectors. There has been a 3.4% increase in women in Leadership in the Travel & Leisure industry, and similarly a 1.7% increase in Retail sector. Furthermore, progress on boards has seen even greater increases,