New Zealand firms urged to set targets for board diversity

The New Zealand Securities Exchange (NZSX) has come under pressure to set targets for more female executives in board recruitment.

With the equivalent organisation in Australia publishing new corporate guidelines promoting the appointment of women in top positions earlier this month, the onus is now on New Zealand to follow suit.

According to the New Zealand Herald, less than nine per cent of directors on the NZSX top 100 are currently female, while just one per cent of chief executives are women.

Judy McGregor, the nation's equal employment opportunities commissioner, told the newspaper that the situation in New Zealand had become "almost desperate".

She commented: "We're the lowest in the developed world for our percentage of women on corporate companies."

Under the new guidelines from the Australian Securities Exchange, companies will be asked to publish a gender breakdown of their directors and senior staff and set new targets for boardroom diversity.