Women on boards a competitive advantage

Media release
21 May 2009

Women on boards a competitive advantage

Getting more women directors in New Zealand companies is a great opportunity for New Zealand business, according to Business NZ and the Institute of Directors.

The two organisations say the call by Women’s Affairs Minister Pansy Wong for more women on boards of companies is timely.

The Ministry of Women’s Affairs, Business NZ and the Institute of Directors have jointly produced Women on Boards, a publication setting out the evidence for competitive advantage when boards have greater numbers of women directors.

Women’s Affairs Minister Pansy Wong will launch the publication in an Auckland boardroom tonight to an audience of directors and senior company representatives.

Institute of Directors’ Chief Executive Nicki Crauford says companies could access a greater range of skills and insights if they had more diversity on their boards. “Uniformity should not be confused with unity,” she says.

“Women’s skill sets might generally differ somewhat from men’s, and that is a source of competitive advantage,” Dr Crauford said. “Companies stand to benefit from women’s commercial insights and abilities.”

Business NZ Chief Executive Phil O’Reilly said a good way to get wider representation on boards was for companies to start developing likely candidates now.

“Companies that begin planning now for a wider representation on their board and follow through with action will be in a better competitive position in the future,” he said.

Women on Boards can be downloaded from www.businessnz.org.nz, www.iod.org.nz and www.mwa.govt.nz from 6pm today

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