Board Composition and Diversity policies key to supporting gender balance.
The Institute of Directors (IoD) in Ireland has today welcomed the publication of the fifth Government-backed Balance for Better Business annual report, which was officially launched this morning by the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD. The report “reveals that Irish businesses have made significant progress in achieving gender balance at board level over the past year”.
These new findings also come on the back of the recent decision by the Council of the European Union regarding boards, which notes that at least 40% of non-executive director positions in listed companies should be held by members of the under-represented sex by 2026. This EU decision will have to be transposed into Irish law.
Welcoming the latest report from the Balance for Better Business group, Caroline Spillane CDir, Chief Executive Officer of the Institute of Directors in Ireland, commented:
“The findings in the latest Balance for Better Business report are encouraging, especially the fact that Ireland has now caught up with and exceeded the EU average for the representation of women on the largest listed companies’ boards. Research conducted by IoD Ireland indicates that just over half (51%) of our members have a diversity policy/statement in place and 59% have a board composition policy. Such policies are key enablers for supporting a diverse and inclusive board and organisation.”