Diversity pressure, listing rules will lead to greater representation of women on boards of Hong Kong-listed firms, says executive search veteran
- Women could occupy nearly 50 per cent of the 2,000 new board seats at Hong Kong-listed firms over the next three years, says Meraki executive director Kirti Lad
- Companies need to proactively find and nurture the right women talent so that they can effectively help boards make better decisions
Women are likely to fill 40 to 50 per cent of an estimated 2,000 new board seats at Hong Kong-listed firms in the next three years because of diversity listing rules and pressure to improve corporate governance, according to a veteran executive placement specialist.
By 2025, women could occupy a quarter of all seats, up from 15.6 per cent of close to 20,000 directorships currently, said Kirti Lad, executive director at Meraki Executive Search & Consulting.
To truly benefit from greater board diversity instead of treating it as a box-ticking exercise, companies need to proactively find and nurture the right women talent so that they can effectively help boards make better decisions, said Lad, who is also the co-founder of the Women’s Directorship Programme, a joint venture between Meraki and the University of Hong Kong’s corporate governance training programme launched a decade ago.
“This is slowly happening in Hong Kong, and it is something that we recommend family-run businesses do, because that is the only way to know whether these candidates are the kind of people they want,” she said. “Invest in a relationship early before you need to make an appointment.”
