Regulators 'will act on boardroom inequality' in Australia

Australia's professional body for company secretaries has warned firms that regulation will be introduced if firms do not act to increase the number of women in senior positions.

According to Chartered Secretaries Australia, mandatory gender quotas are likely to follow if companies fail to heed new guidelines recently issued by the ASX Corporate Governance Council, the Herald Sun reports.

Tim Sheehy, chief executive of the secretaries organisation, said the nation's large corporations can no longer afford to ignore calls for greater female representation in the boardroom.

"Council is sending a very clear message to boards and senior management: if you don't fix the problem, government will," he told the newspaper.

"The entrenched male majority has got to open up the membership."

New proposals concerning the executive compensation policies of listed companies have also been issued by the ASX, with the council recommending a new structure for remuneration committees chaired by an independent director.