Women on boards: quota proposal gains support as Hong Kong companies drag their feet on ensuring diversity
- No shortage of capable women for male-dominated boards, say those dismayed by slow pace of change
- Some listed companies balk at proposals, saying board appointments should be on merit, not gender
When Ginny Wilmerding joined the board of Hong Kong-listed consumer technology company Techtronic Industries in April, it was an ambition realised after years of waiting.
The 52-year-old American, a partner of communications consultancy Finsbury Glover Hering, says she wanted to be appointed to a company board for a long time. “But I was not sure how I would break through,” she adds.
She believes there are many more capable women in Hong Kong who can serve on boards, if only they are invited to do so.
“There is a huge pool of talent out there that can contribute and are just waiting for that first opportunity,” says Wilmerding, a long-time resident of the city.
But Hong Kong’s biggest companies have not been in any hurry to get women into their boardrooms.
Out of 2,550 listed companies, about a third have all-male boards. The rest have at least one woman board member, according to the Hong Kong Exchanges and Clearing (HKEX).
