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New Code Will Help Increase Gender Diversity On Boards

Hon Jo Goodhew

Minister of Women’s Affairs
29 November 2012 Media Statement

New Code Will Help Increase Gender Diversity On Boards

Women’s Affairs Minister Jo Goodhew has welcomed the launch of the new Voluntary Code of Practice for Board Recruitment, developed by the 25 Percent Group, which supports improved practices in board recruitment.

“I applaud the Code as a further commitment by the private sector towards increasing the number of women in governance. I especially want to congratulate the six recruitment firms who have already signed up to the Code and I look forward to other firms adopting it over time,” said Mrs Goodhew.

The Code provides best practice guidance in achieving diversity in board recruitment processes. It draws on the similar code already in place in the United Kingdom, plus recent international research, emerging best practice and advice from the Cranfield International Institute for Women in Leadership.

The Code was launched today by the 25 Percent Group, the group of chief executives and directors from the private and public sectors committed to increasing the numbers of women in governance roles.

Mrs Goodhew said that diversity is increasingly recognised as a priority for business success and credibility.

“Having more women in leadership roles in companies provides a wider range of views in key operational and strategic decisions. It also means these companies have stronger connections with their customers, shareholders and investors.

“The Code is another positive step towards New Zealand having diversity recognised as a key factor in board recruitment practices.

“At present women hold 14.75 per cent of directorships on New Zealand’s top 100 listed companies. This has increased from 9.3 per cent in 2010.

“The increase in the proportion of directorships held by women is very encouraging, and the Code being launched today will help to further advance this positive trend.”

ENDS

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