SA women get on board

The number of women-held directorships on Johannesburg Stock Exchange boards has increased significantly over the past three years, and South Africa is more or less on a par with the United States and Canada, and ahead of the United Kingdom, in regard to gender equity.

The stronger representation by women at board level is due at least in part to the increase in board size, says Sandra Burmeister, CEO of the Landelahni Recruitment Group.

Between 2008 and 2010, the number the number of women-held board seats doubled from 574 to 1127, according to the recent Business Womens Association (BWA) Women in Leadership Census. That’s a considerable increase in the number of women at the top table, says Burmeister.

The total number of seats on JSE boards increased from 3 939 in 2008 to 7 128 in 2010. Over the same period the number of listed companies dropped 10% to 339, indicating an average board size of 21 members.

The increase in board size can largely be attributed to new corporate governance requirements, says Burmeister.

The need for more independent directors and the call to shorten board tenure has led to the appointment of additional board members and the entry of more first-timers.

To ensure orderly transition and the transfer of the institutional memory that resides in the board, companies have brought in new talent early.

Despite the increased number of women on boards, the %age of female board seats remains relatively low at 15.8%, and that is a cause for concern.