Australian businesses 'benefiting from ASX diversity guidance'

The Australian business sector is seeing positive effects from the recent implementation of boardroom diversity guidelines from the Australian Securities Exchange (ASX).

A report from the Sydney Morning Herald has highlighted figures showing that more than 60 women were appointed to ASX 200 boards in 2011 up from a previous high of 59 in 2010.

This follows the introduction of ASX corporate governance guidelines on diversity during the current financial year, resulting in 40 per cent of new board appointments to ASX 50 companies being female.

Jillian Segal, an ASX and National Australia Bank director, said this has been a year of "real progress" in terms of female representation, with the newly appointed business leaders now also able to aid the development of the next generation of women directors.

"I am seeing conversations in the boardroom very different from the conversations five years ago," she added.

Last month, ALB Legal News reported comments from Dubai Financial Services Authority deputy chief executive Ian Johnston, in which he called for Australia to take the lead on improving governance standards across the Asia-Pacific region.