2004 eowa australian census of women in leadership

what gets measured gets managed

® Proudly sponsored by IN PARTNERSHIP WITH Catalyst is the leading US research and advisory organisation working with businesses and the professions to build inclusive environments and expand opportunities for women at work. As an independent, non-profit membership organisation, Catalyst uses a solutions-oriented approach that has earned the confidence of business leaders around the world. Catalyst conducts research on all aspects of women’s career advancement and provides strategic and web-based consulting services on a global basis to help companies and firms advance women and build inclusive work environments. In addition, they honour exemplary business initiatives that promote women’s leadership with their annual Catalyst Award. With offices in New York, San Jose and Toronto, Catalyst is consistently ranked No. 1 among US nonprofits focused on women’s issues by The American Institute of Philanthropy.

IN COLLABORATION WITH Macquarie University is highly acclaimed for the innovation and high quality of its teaching and research. It has led the way on EEO and diversity, appointing the first female Vice-Chancellor, Professor Di Yerbury, in 1987 and winning awards for its strategies to lift barriers in the path of female students and staff. The University has hosted the successful annual Women, Management and Employment Relations Conference since 1989. www.mq.edu.au

SPONSORED BY Platinum Sponsors ANZ, including its finance company Esanda, aspires to be the bank with a human face in which a diverse workforce plays a central role. Gender diversity is a key component organisations can leverage for corporate success, as it enriches organisational culture, perspectives, creativity and innovation, as well as leadership and management style. By sponsoring the Census, ANZ hopes to assist in recognising the importance of women in corporate and inspire others to value difference within their organisations. www.anz.com and www.esanda.com Gold Sponsor Macquarie University is also proud to be a sponsor of the EOWA Australian Census of Women in Leadership.

© Equal Opportunity for Women in the Workplace Agency 2004 ISBN 0642325103 Statistical Clearing House Approval Number 01169 –– 01 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Equal Opportunity for Women in the Workplace Agency. Requests and enquiries concerning reproduction, rights and content should be addressed to the: Equal Opportunity for Women in the Workplace Agency, Level 6, 1 Elizabeth Plaza, North Sydney, NSW, 2060, Australia. Tel. 61 2 9448 8500 Fax. 61 2 9448 8572 www.eowa.gov.au 2 eowa australian0 census04 of women in leadership A study of women board directors and executive managers in the top 200 ASX companies and the Business Council of Australia member organisations

ABOUT EOWA An Australian Government agency, the Equal Opportunity for Women in the Workplace Agency (EOWA) consults with over 2,700 Australian employers annually regarding their equal opportunity initiatives. EOWA’s vision is to create an Australia where women in the workplace can achieve their greatest potential. In addition to annual reporting, EOWA inspires companies to advance women in their workplace through various programs. These include the EOWA Business Achievement Awards, the EOWA Employer of Choice for Women citation, awarded to organisations that demonstrate equal opportunity effectiveness for women, and the EOWA Australian Census of Women in Leadership. www.eowa.gov.au foreword 02 There has been an increase in the number EOWA looks forward to working with of women stepping up to leadership positions business in Australia to continue to create an in business, highlighted in the third EOWA environment where women in the workplace Australian Census of Women in Leadership. can achieve their full potential, for the benefit The 2004 Census reports on women in of women, business and the economy. leadership positions in the ASX Top 200 EOWA acknowledges the invaluable support companies and, for the first time, the member of our primary sponsors, ANZ and Esanda. organisations of the Business Council of Together we recognise the tremendous work Australia. While a notable increase in executive by Macquarie University in conducting the management numbers is evident, there are research and thank the University for its only minor increases in women at the most continued support. Finally, without the support senior levels of these organisations. of our partner Catalyst, and many others, In 2004, women hold 10.2% of executive the Census would not be possible. management positions in the ASX200, a welcome increase of 1.4% which equates to a 16% increase on the previous year. Improved workplace flexibility, changed workplace practices, a focus on appropriate succession ANNA McPHEE planning and a recognition of the benefits of DIRECTOR EOWA maximising women’s participation have all contributed to this increase. Despite these shifts, with women representing 44.5% of the workforce, it is clear that women remain largely under-represented in leadership JOHN McFARLANE positions. At the highest levels in the ASX200, CHIEF EXECUTIVE OFFICER women hold 8.6% of Board Directorships, ANZ BANKING GROUP LIMITED 3.1% of Highest Titles, 2.3% are CEOs and only 1.1% are Chairs. There is some evidence that, as a group, the BCA member organisations have higher levels of representation of women in leadership, a possible reflection of the presence of foreign- owned companies who are leading the way. This international comparison sends a strong message to Australian companies seeking to attract the best staff and compete globally. 03 contents Introduction 4 2004 Census Pyramid: The Status of 5 Women in the Workplace ASX200 Key Findings 6 ASX200 Trends Over Time 8 ASX200 International Comparison 10 Women Chairs and CEOs in ASX200 Companies 12 Distribution of Individual Women Board 12 Directors Across ASX200 Companies Women Line Executive Managers 13 in ASX200 Companies ASX200 Industries With the Highest/Lowest 14 Representation of Women Business Council of Australia Key Findings 16 Comparison of ASX200 Companies and BCA Members 17 Methodology and Glossary of Terms 26 ASX200 Blue Ribbon Lists: 28 appendices Organisations Leading the Way Appendix 1: ASX200 Organisation Data by Industry 18 Acknowledgements Incorporating Trusts Appendix 2: Business Council of Australia Member 22 Organisation Data by Name Appendix 3: ASX200 Summary Data Incorporating Trusts 24 Appendix 4: ASX200 Summary Data Excluding Trusts 25 Appendix 5: ASX200 Summary Industry Data 25 Excluding Trusts figures Figure 1: Board Directors of ASX200 6 Companies by Gender Figure 2: Executive Managers in ASX200 7 Companies by Gender Figure 3: Comparison Over 3 Years of the Percentage 8 of Board Seats Held by Women Figure 4: Comparison Over 3 Years of the Percentage 9 of Executive Management Positions Held by Women Figure 5: Comparison Over 3 Years of the Percentage 9 of Line and Highest Title Positions Held By Women Figure 6: Percentage of Board Directors that are 10 Women (latest Census results) Figure 7: Census of Women Board Directors 10 – Australian Progress Compared with the US and Canada Figure 8: Percentage of Executive Managers that 11 are Women (latest Census results) Figure 9: Census of Women Executive Managers 11 – Australian Progress Compared with the US and Canada Figure 10: Distribution of Directorships Among 12 Women Directors Figure 11: Gender Composition of Executive 13 Management Line and Support Roles Figure 12: Line/Support Role Composition of 13 Executive Managers by Gender Figure 13: Industries with the Highest Representation 14 of Women in Leadership Figure 14: Industries with the Lowest Representation 15 of Women in Leadership Figure 15: Women in Business Council of Australia 16 Member Organisations Figure 16: Comparison of Women in Leadership in 17 ASX200 and BCA Organisations introduction 04 This is the third annual analysis of the progress of women in the corporate leadership of companies listed on the ASX200 index of Stock Exchange. Summary information is also presented for the first time for organisations that are members of the Business Council of Australia (BCA). This year’s Census publication presents a number of new analyses of the data, including trend data, the distribution of individual women across board seats and a BCA comparison. Also published for the first time is the EOWA Australian Census of Women in Leadership ASX200 Blue Ribbon List, which identifies the companies with the highest number of women in leadership positions. This project is based on the methodology developed by Catalyst and was first applied in 1993 in the US. This enables comparisons to be made with the findings from comparable studies conducted in other parts of the world: the United States, Canada and South Africa. The methodology involves counting the women and men in corporate leadership positions, both as Board Directors and in Executive Management positions (see Glossary for definitions), using a census rather than survey approach. This ensures that only the most accurate and complete picture of women in senior leadership positions for leading companies listed on the ASX200, as at 30 June 2004, is measured. Information was initially summarised from publicly-available annual reports, and companies were then contacted to validate the data. Data from 95.4% of companies were validated, a significantly higher validation rate than has been achieved in past years. The key data presented in this report come from 174 of the ASX200 companies. (Property and investment trusts are excluded from the overall analysis. See Methodology for details) 05 census pyramid the status of women in the workplace

1.1% ASX200 Chairs 2.3% ASX200 CEOs 3.1% ASX200 Highest Titles 8.6% ASX200 Board Directors 10.2% ASX200 Executive Managers 25.0% University Vice Chancellors 28.6% Federal and State Politicians 44.4% Managerial and Professional Positions 44.5% Australian Labour Force

SOURCE 2004 EOWA Australian Census of Women in Leadership. Australian Vice Chancellors’ Committee Australian Federal, State and Territory Parliamentary Websites Australian Bureau of Statistics (ABS) Supertables, May 2004 ABS Labour Force, Australia 6202.0 June 2004 ASX200 key findings women board directors 06 • Women hold 8.6% of Board Directorships in • In 8.0% of ASX200 companies, 25% or more of the ASX200 Australian companies (see Figure 1). Board Directors are women. This figure is higher This compares with 8.4% reported in the 2003 than that reported in the 2003 Census (5.9%). Census and continues the trend of incremental • Industries with the highest representation of improvement since the EOWA Census began women Board Directors are: Telecommunication in 2002. Services, Diversified Financials, Banks, Insurance • The 2004 result compares with 7.1% reported and Consumer Durables & Apparel. in the South African 2004 census, 11.2% in the Canadian 2003 census and 13.6% reported in the most recent US 2003 census of Fortune 500 companies (conducted by Catalyst). • 52.9% of ASX200 companies have at least one woman Board Director. This is an increase on the 2003 EOWA Census figure of 49.1%. In the US the comparable figure is 89.2%, in Canada it is 48.6% and in South Africa it is 40.1%.

FIGURE 1: BOARD DIRECTORS OF ASX200 COMPANIES BY GENDER

8.6% WOMEN

91.4% MEN

8.6% 91.4% 07 ASX200 key findings women executive managers • Women hold 10.2% of Executive Management • Women account for only 6.5% of Line positions in the ASX200 Australian companies executive positions in the companies where (see Figure 2). This 1.4% improvement this data was available, compared to 9.9% in equates to an increase of 16% on the 2003 the US in 2002. This figure is higher than that Census result of 8.8%. reported in Australia in 2002, 5.0% and in • This compares with 15.7% of corporate 2003, 4.7%. officer positions in the most recent US census, • Women hold four Chief Executive Officer roles 14.7% reported in the South African census and just 3.1% of the Highest Title positions. and 14.0% in the Canadian census. The US figure in 2002 was six Chief Executive • 58.0% of ASX200 companies have at least Officers and 7.9% of the Highest Title one woman in an Executive Management positions. Industries with the highest position. This is significantly lower than the representation of women Executive Managers 86% figure for US Fortune 500 companies are: Software & Services, Retailing, Health reported by Catalyst in 2002. Care Equipment & Services, Banks and Diversified Financials. • In 9.2% of Australian companies, a quarter or more of the Executive Management team comprised women. The comparable figure in the US is 12.0%.

FIGURE 2: EXECUTIVE MANAGERS IN ASX200 COMPANIES BY GENDER

10.2% WOMEN

89.8% MEN

10.2% 89.8% ASX200 trends over time women board directors 08 In 2004, 8.6% of all ASX200 Board Directors Figure 3 also shows a comparison across the are women. This is slightly higher than the three years of the EOWA Census. As can be 8.4% reported in the 2003 Census. In actual seen there has been an increase in both the numbers, women have 112 board seats out number of companies where there are two or of a total of 1307. Full details can be found more women Board Directors and the number in the list of ASX200 companies by industry of companies in which there are 25% or more (Appendix 1). women Board Directors. Figure 3 shows the percentage of companies in the 2004 Census with zero, one and two or more women directors, as well as the percentage of companies where women comprise 25% or more of Board Directors. Only 11.5% of companies have two or more women directors and 47.1% do not have any women directors at all. Further, only 8.0% of companies have 25% or more women directors.

FIGURE 3: COMPARISON OVER 3 YEARS OF THE PERCENTAGE OF BOARD SEATS HELD BY WOMEN

8.6 WOMEN BOARD DIRECTORS 8.4 8.2

8.0 COMPANIES WITH 25% OR 5.9 MORE WOMEN BOARD DIRECTORS 5.9

11.5 COMPANIES WITH 2 OR 10.7 MORE WOMEN BOARD DIRECTORS 9.9

47.1 COMPANIES WITHOUT WOMEN 47.3 BOARD DIRECTORS 46.7

2002 2003 2004 0% 10 20 30 40 50 60 09 ASX200 trends over time women executive managers In 2004, 10.2% of all Executive Management As can be seen from Figure 4, there have been positions in the ASX200 companies are held by small but notable increases in the proportion women. In actual numbers, women hold 174 of women in Executive Management positions out of a total of 1714 Executive Management over the three years of the Census. This is positions. A complete list of company details is particularly evident in the increases in the shown in Appendix 1. overall percentage of women, the percentage Figure 4 shows the percentage of companies of companies where there are two or more with zero, one and two or more women in women and the percentage of women in Line Executive Management positions, as well as positions. It is also evident in the significant the percentage of companies where women decrease in the proportion of companies comprise 25% or more of all Executive without women Executive Managers (from Managers. 24.1% have two or more women 52.6% in 2002 to 42.0% in 2004). in Executive Management positions, 33.9% One figure that has remained constant have one and 42.0% do not have any female across the three years is the percentage Executive Managers. Further, 9.2% have 25% of women in Highest Title positions (see or more women in Executive Management Figure 5). Using the procedure developed positions. This pattern is quite different to by Catalyst, these positions are defined as that reported in the 2003 Census where yielding the most influence and policy-making 49.1% did not have any women in Executive power in organisations: CEO, Chairman, Management positions. Vice-Chairman, President, Chief Operating Officer, Senior Executive Vice-President, and Executive Vice-President.

FIGURE 5: COMPARISON OVER 3 YEARS OF THE PERCENTAGE OF LINE AND HIGHEST TITLE POSITIONS HELD BY WOMEN

7 2002 6.5 2003 2004 6

5.0 4.7 FIGURE 4: COMPARISON OVER 3 YEARS 5 GERS OF THE PERCENTAGE OF EXECUTIVE MANAGEMENT POSITIONS HELD BY WOMEN

4

10.2 WOMEN EXECUTIVE MANAGERS 8.8 3.2 3.2 8.4 3.1 3

9.2 COMPANIES WITH 25% OR MORE GE OF WOMEN EXECUTIVE MANA

9.5 A WOMEN EXECUTIVE MANAGERS 8.4 2

24.1 PERCENT COMPANIES WITH 2 OR MORE 21.9 WOMEN EXECUTIVE MANAGERS 17.8 1 42.0 COMPANIES WITHOUT WOMEN 49.1 EXECUTIVE MANAGERS 52.6 0%

2002 2003 2004 0% 10 20 30 40 50 60 WOMEN IN WOMEN IN LINE POSITIONS HIGHEST TITLE POSITIONS ASX200 international comparison of women board directors 10 As can be seen in Figure 6, the percentage of women on Australian boards (8.6%) is still relatively low in comparison to Canada (11.2%) and the US (13.6%), while being slightly higher than South Africa (7.1%). Figure 7 shows a comparison of Australian, US and Canadian census results for Board Directors since the census was first undertaken in each country. Australia’s increase over time has been minimal, particularly in comparison to Canada which has experienced a sharp increase since its first census.

FIGURE 7: CENSUS OF WOMEN BOARD DIRECTORS – AUSTRALIAN PROGRESS COMPARED WITH THE US AND CANADA

18 US CANADA AUSTRALIA

FIGURE 6: PERCENTAGE OF BOARD 16 DIRECTORS THAT ARE WOMEN (LATEST CENSUS RESULTS) ORS

14 2003 13.6% ARD DIRECT

UNITED STATES 2003 13.6 12 2003 11.2%

1996 2001 CANADA 2003 11.2 E OF WOMEN BO 10.2% 10 9.8% 1995 AG 9.6% 1994 8.7% 1993 8.3% AUSTRALIA 2004 8.6 PERCENT 2004 8 2003 8.6% 2002 8.4% 8.2%

7.1 SOUTH AFRICA 2004 1998 6% 6.2%

0% 4 8 12 16 1ST 2ND 3RD 4TH 10TH PERCENTAGE OF WOMEN BOARD DIRECTORS CENSUS 11 ASX200 international comparison of women executive managers Although the Australian figures show a substantial increase in the past 12 months from 8.8% to 10.2%, there are still considerably fewer women in Executive Management positions in Australia than in other countries (see Figure 8). This compares with 15.7% in the US, 14.7% in South Africa and 14.0% in the most recent Canadian census. Figure 9 shows a comparison of Australian, US and Canadian census results for Executive Managers since the census was first undertaken in each country. All three countries demonstrate an upward trend over time, however Canada had a significantly higher starting point than Australia and the US.

FIGURE 9: CENSUS OF WOMEN EXECUTIVE MANAGERS – AUSTRALIAN PROGRESS COMPARED WITH THE US AND CANADA

18 US CANADA AUSTRALIA

FIGURE 8: PERCENTAGE OF EXECUTIVE 16 2002 15.7% MANAGERS THAT ARE WOMEN (LATEST CENSUS RESULTS) GERS 2002 14.0% 14 2000 12.5%

1998 UNITED STATES 2002 15.7 11.2% 12 1999 12.0% 1996 10.0% 2004 CANADA 2002 14.0 10.2% E OF WOMEN EXECUTIVE MANA 10

AG 1995 8.7% 2003 8.8% AUSTRALIA 2004 10.2 PERCENT 8 2002 8.4%

SOUTH AFRICA 2004 14.7 6%

0% 4 8 12 16 1ST 2ND 3RD 4TH 5TH PERCENTAGE OF WOMEN EXECUTIVE MANAGERS CENSUS women chairs and CEOs in ASX200 companies 12 Women are under represented in the topmost corporate positions in ASX200 organisations. Only two (1.1%) Chairs of Boards and four (2.3%) Chief Executive Officers are women. Further, women hold only 3.1% of the Highest Title positions in ASX200 companies. These figures have remained relatively constant across the three years of the EOWA Census, indicating that there are still significant barriers to women achieving these positions in Australian corporations.

distribution of individual women board directors across ASX200 companies

Figure 10 shows that there are 76 women Board Directors holding 112 ASX200 directorships between them. Interestingly, the majority of women, 73.7%, hold only one directorship of an ASX200 company. This figure compares with 81.8% reported in the 2004 South African census, 86.0% in the 2003 Canadian census and 74.7% in the most recent US census in 2003.

FIGURE 10: DISTRIBUTION OF DIRECTORSHIPS AMONG WOMEN BOARD DIRECTORS

60 56 55

50

45

40

35

30

25

20 NUMBER OF WOMEN

15

10 10 7 5 3 0

4 3 2 1 DIRECTORSHIPS 13 women line executive managers in ASX200 companies Catalyst reports that advancement to the most senior positions in business organisations is associated with breadth of experience, especially in line projects. People in Line positions have responsibility for profit-and- loss or direct client service. Support (or Staff) positions, such as in human resources and legal provide key functional support to line operations. Since Line experience is widely considered essential for rising to the role of CEO and equivalent, Catalyst advocates analysing the Line and Support status of women and men in senior positions. Of all the Line positions identified, women hold 6.5%, and of the Support positions, 20.0% (see Figure 11). Considering women as a group, 37.9% are in Line positions and 62.1% are in Support positions. In contrast, 68.6% of men are in Line positions and 31.4% are in Support positions (see Figure 12). These figures are based on an analysis of the position titles provided by the companies.

FIGURE 11: GENDER COMPOSITION FIGURE 12 LINE/SUPPORT ROLE OF EXECUTIVE MANAGEMENT LINE COMPOSITION OF EXECUTIVE MANAGERS AND SUPPORT ROLES BY GENDER

100 100 WOMEN 93.5 LINE ROLES 90 90 MEN 80.0 SUPPORT ROLES 80 80

70 68.6 70 GERS GEMENT ROLES 62.1 60 60

50 50

40 37.9 40

31.4 GE OF EXECUTIVE MANA E OF EXECUTIVE MANA 30 30 A AG 20.0 20 20 PERCENT

10 PERCENT 10 6.5

0% 0%

SUPPORT ROLES LINE ROLES MEN WOMEN

GENDER BREAKDOWN OF ROLES ROLE OF EXECUTIVE MANAGERS ASX200 industries with a high representation of women 14 Figure 13 shows a comparison of industry categories with high representations of women on boards and in executive management. (See Appendix 1 for details.) While it is generally the case that organisations with a high percentage of women Board Directors also have a high percentage of women Executive Managers, Consumer Durables provides the exception. Overall, the industries with the highest representation of women in senior roles are: Telecommunications, Software & Services, Diversified Financials, Banks, Insurance and Retailing.

FIGURE 13: INDUSTRIES WITH THE HIGHEST REPRESENTATION OF WOMEN IN LEADERSHIP

19.4 SOFTWARE & SERVICES 12.0 18.0 RETAILING 7.0 15.6 HEALTHCARE EQUIPMENT & SERVICES 9.9 CONSUMER DURABLES & APPAREL 0.0 15.4 INSURANCE 13.0 15.4 BANKS 15.4 15.7 14.5 DIVERSIFIED FINANCIALS 16.4 11.8 TELECOMMUNICATIONS 21.1

BOARD 0% 5 10 15 20 25 30 EXECUTIVE MANAGEMENT 15 ASX200 industries with a low representation of women Figure 14 shows a comparison of industry categories with a low representation of women on boards and in executive management. (See Appendix 1 for details.) The industries with the lowest representation of women Board Directors are: Automobiles & Components, Technology & Hardware Equipment, Commercial Services & Supplies, Real Estate and Energy. Industries with the lowest representation of women in Executive Management positions are: Consumer Durables & Apparel, Hotels Restaurants & Leisure, Food Beverage & Tobacco, Capital Goods and Automobiles & Components.

FIGURE 14: INDUSTRIES WITH THE LOWEST REPRESENTATION OF WOMEN IN LEADERSHIP

0.0 CONSUMER DURABLES & APPAREL 15.4 3.3 HOTELS RESTAURANTS & LEISURE 12.2 4.4 FOOD BEVERAGE & TOBACCO 6.3 CAPITAL GOODS 6.0 7.1 ENERGY 7.9 5.8 REAL ESTATE 10.9 4.7 9.5 COMMERCIAL SERVICES & SUPPLIES 1.6 TECHNOLOGY HARDWARE 8.0 & EQUIPMENT 0.0 6.7 AUTOMOBILES & COMPONENTS 0.0

BOARD EXECUTIVE MANAGEMENT 0% 4 8 12 16 business council of australia key findings 16 Organisations that are members of the Business Council of Australia (BCA) were included in the EOWA Census research for the first time this year. A summary of the findings for this group is shown in Appendix 2. Whilst sourcing and validating the BCA information, it became clear that the ASX200 methodology would require development to allow for different corporate structures in several of the BCA companies. Some companies, while having a board for the parent organisation, also had a local (advisory) board in Australia. To take account of this, both sets of data are provided in Appendix 2. Some other organisations are based on a partnership structure (eg. law firms). To take account of this, data are also provided on women partners where appropriate. By providing the data for these additional categories, we are able to present a more accurate measurement of women in leadership for each organisation. Figure 15 presents the data in the four significant categories: Overseas (Parent) Boards, Australian (Advisory) Boards, Partners and Executive Managers

FIGURE 15: WOMEN IN BUSINESS COUNCIL OF AUSTRALIA MEMBER ORGANISATIONS

20

15 13.5 12.0 11.4 10.9 10 GE OF WOMEN A

5 PERCENT

0%

EXECUTIVE PARTNERS AUSTRALIAN OVERSEAS MANAGERS (ADVISORY) (PARENT) BOARD BOARD DIRECTORS DIRECTORS 17 comparison of ASX200 companies and BCA members Figure 16 shows a comparison between the ASX200 companies and the members of the BCA. There is some evidence that, as a group, the BCA member organisations have a higher level of representation of women in leadership. This may be attributable to the fact that this group incorporates foreign-owned companies, which tend to have higher numbers of women at senior levels. Forty-eight companies listed in the ASX200 are also members of the BCA. Figure 16 is therefore indicative of the average differences between the ASX200 companies and the BCA member organisations. Figures for non-ASX200 BCA organsations are included for comparison.

FIGURE 16: COMPARISON OF WOMEN IN LEADERSHIP IN ASX200 AND BCA ORGANISATIONS

ASX200 BCA NON-ASX BCA 20

13.8 12.8 13.1 13.0 8.6 10.2 15

10 GE OF WOMEN A 4.1 4.1 3.1 4.1

1.1 2.3 PERCENT 5

0%

BOARD EXECUTIVE CHAIRS CEOs DIRECTORS MANAGERS

Where companies have both an Australian (advisory) board and an overseas (parent) board, Australian board data have been used. Overseas board data are used where no Australian board exists. Includes partners, where applicable. Figures are based on those companies for which the data were available. See Appendices 1 and 2 for details of individual companies’ data. Includes only those BCA organisations that are not also in the ASX200. ASX200 organisation data by industry incorporating trusts 18 Appendix 1

Women Total % Women Women Total % Women ASX BCA ASX Sub- Board Board Board Executive Executive Executive Company Code Member Rank Industry Directors Directors Directors Managers Managers Managers Automobiles & Components 0 12 0.0% 1 15 6.7% ION Limited ION N 159 25101010 0 5 0.0% 0 7 0.0% Pacifica Group Limited PBB N 144 25101010 0 7 0.0% 1 8 12.5% Banks 11 70 15.7% 14 91 15.4% Bank Limited ADB N 123 40101015 2 8 25.0% 1 11 9.1% Australia and New Zealand Banking Group Limited ANZ Y 4 40101010 1 8 12.5% 2 16 12.5% Bank of Limited BOQ N 117 40101015 0 8 0.0% 3 10 30.0% Bendigo Bank Limited BEN Y 93 40101015 1 8 12.5% 4 13 30.8% of Australia CBA Y 3 40101010 2 12 16.7% 0 11 0.0% Limited NAB Y 2 40101010 1 9 11.1% 1 12 8.3% St. George Bank Limited SGB Y 11 40101010 2 8 25.0% 1 9 11.1% Banking Corporation WBC Y 5 40101010 2 9 22.2% 2 9 22.2% Capital Goods 4 56 7.1% 5 83 6.0% Crane Group Limited CRG N 154 20102010 1 7 14.3% 1 16 6.3% GWA International Limited GWT N 121 20102010 0 6 0.0% 0 9 0.0% Henry Walker Eltin Group Limited HWE N 192 20103010 0 6 0.0% 2 13 15.4% Hills Industries Limited HIL N 147 20105010 1 8 12.5% 0 8 0.0% Multiplex Group MXG N 73 20103010 1 10 10.0% 1 17 5.9% United Group Limited UGL N 152 20103010 0 7 0.0% 1 10 10.0% Limited WES Y 13 20105010 1 12 8.3% 0 10 0.0% Commercial Services & Supplies 1 62 1.6% 7 74 9.5% Brambles Industries Limited BIL Y 34 20201030 0 10 0.0% 2 10 20.0% Coates Hire Limited COA N 132 20201030 0 5 0.0% 0 5 0.0% Corporate Express Australia Limited CXP N 115 20201060 1 7 14.3% 4 18 22.2% Downer E.D.I. Limited DOW N 116 20201030 0 10 0.0% 0 14 0.0% Leighton Holdings Limited LEI Y 60 20103010 0 12 0.0% 1 9 11.1% Spotless Group Limited SPT N 112 20201030 0 9 0.0% 0 10 0.0% Transfield Services Limited TSE N 129 20201030 0 9 0.0% 0 8 0.0% Consumer Durables & Apparel 2 13 15.4% 0 22 0.0% Billabong International Limited BBG N 77 25203010 2 8 25.0% 0 9 0.0% GUD Holdings Limited GUD N 146 25201040 0 5 0.0% 0 13 0.0% Diversified Financials 10 61 16.4% 10 69 14.5% Australian Stock Exchange Limited ASX Y 79 40201040 2 8 25.0% 3 11 27.3% Challenger Financial Services Group Limited CGF N 98 40201030 1 9 11.1% 1 9 11.1% IOOF Holdings Limited IFL N 179 40203010 1 7 14.3% 1 6 16.7% Macquarie Bank Limited MBL Y 25 40203020 2 11 18.2% 0 15 0.0% Perpetual Trustees Australia Limited PPT Y 74 40203010 2 8 25.0% 1 9 11.1% SFE Corporation Limited SFE N 120 40201040 1 9 11.1% 2 11 18.2% Suncorp-Metway Limited SUN Y 23 40201020 1 9 11.1% 2 8 25.0% Energy 4 69 5.8% 8 101 7.9% A.R.C. Energy Limited ARQ N 193 10102020 0 6 0.0% 0 6 0.0% Australian Worldwide Exploration Limited AWE N 164 10102020 0 6 0.0% 0 5 0.0% Caltex Australia Limited CTX Y 59 10102030 1 6 16.7% 2 9 22.2% Limited OSH N 82 10102020 0 8 0.0% 1 17 5.9% Limited ORG Y 46 10102010 1 7 14.3% 1 11 9.1% Roc Oil Company Limited ROC N 185 10102020 0 7 0.0% 1 9 11.1% STO Y 44 10102020 1 7 14.3% 2 16 12.5% Tap Oil Limited TAP N 188 10102020 0 5 0.0% 0 6 0.0% Limited WPL Y 12 10102020 1 10 10.0% 0 11 0.0% Group Limited WOR N 10 10101020 0 7 0.0% 1 11 9.1% Food & Drug Retailing 5 49 10.2% 6 66 9.1% A.W.B. Limited AWB Y 80 30102010 1 12 8.3% 2 10 20.0% Coles Myer Limited CML Y 14 30101040 2 11 18.2% 2 16 12.5% Foodland Associated Limited FOA N 69 30101030 0 9 0.0% 2 20 10.0% Trading Limited MTT N 76 30101020 0 11 0.0% 0 10 0.0% Woolworths Limited WOW Y 160 30101030 2 6 33.3% 0 10 0.0% 19

Women Total % Women Women Total % Women ASX BCA ASX Sub- Board Board Board Executive Executive Executive Company Code Member Rank Industry Directors Directors Directors Managers Managers Managers Food Beverage & Tobacco 5 79 6.3% 4 91 4.4% Burns, Philp and Company BPC N 85 30202030 0 6 0.0% 1 15 6.7% Coca-Cola Amatil Limited CCL Y 38 30201030 1 8 12.5% 0 6 0.0% Foster’s Group Limited FGL Y 16 30201010 1 6 16.7% 0 10 0.0% Futuris Corporation Limited FCL N 110 30202010 0 9 0.0% 1 11 9.1% Lion-Nathan Limited LNN N 47 30201010 1 9 11.1% 0 10 0.0% McGuigan Simeon Wines Limited MGW N 151 30201020 0 9 0.0% 0 6 0.0% National Foods Limited NFD N 90 30202030 0 8 0.0% 0 8 0.0% Ridley Corporation Limited RIC N 172 30202010 1 7 14.3% 0 4 0.0% S. P. C. Ardmona Limited SPC N 178 30202030 0 8 0.0% 1 8 12.5% Southcorp Limited SRP N 64 30201020 1 9 11.1% 1 13 7.7% Health Care Equipment & Services 8 81 9.9% 22 141 15.6% Limited ANN N 87 35101020 0 6 0.0% 0 14 0.0% COH N 95 35101010 1 8 12.5% 1 12 8.3% D.C.A . Group Limited DVC N 124 35102020 0 7 0.0% 1 6 16.7% Limited HSP N 176 35102020 1 6 16.7% 3 9 33.3% Mayne Group Limited MAY Y 67 35102020 2 8 25.0% 0 11 0.0% MIA Group Limited MIA N 135 35102015 0 7 0.0% 0 7 0.0% RHC N 130 35102020 1 9 11.1% 1 5 20.0% Resmed Incorporated RMD N 61 35101010 0 7 0.0% 4 34 11.8% Sigma Company Limited SIG N 99 35102010 1 9 11.1% 1 11 9.1% Limited SHL N 62 35102015 0 9 0.0% 7 20 35.0% Ventracor Limited VCR N 184 35101010 2 5 40.0% 4 12 33.3% Hotels Restaurants & Leisure 5 41 12.2% 2 61 3.3% Limited ALL N 65 25301010 1 7 14.3% 0 15 0.0% Australian Leisure and Hospitality Group Limited ALH N 119 25301040 1 5 20.0% 1 9 11.1% Burswood Limited BIR N 138 25301010 1 6 16.7% 0 9 0.0% TABLimited TAB N 66 25301010 1 7 14.3% 0 7 0.0% Limited TAH N 31 25301010 0 7 0.0% 0 10 0.0% UniTAB Limited UTB N 103 25301010 1 9 11.1% 1 11 9.1% Insurance 8 52 15.4% 9 69 13.0% A.M.P. Limited AMP Y 9 40301020 2 7 28.6% 1 8 12.5% A.X.A. Asia Pacific Holdings Limited AXA N 32 40301020 0 8 0.0% 3 11 27.3% HHG-PLC HHG N 70 40301020 0 8 0.0% 1 8 12.5% Insurance Australia Group IAG Y 22 40301040 2 8 25.0% 2 13 15.4% OAMPS Limited OMP N 177 40301010 0 6 0.0% 0 7 0.0% Promina Group Limited PMN N 41 40301010 2 7 28.6% 0 10 0.0% QBE Insurance Group Limited QBE N 18 40301040 2 8 25.0% 2 12 16.7% Materials 15 247 6.1% 19 288 6.6% Adelaide Brighton Limited ABC N 134 15102010 0 7 0.0% 0 7 0.0% AWC Y 29 15104010 0 5 0.0% 0 3 0.0% Limited AMC Y 30 15103020 1 7 14.3% 0 6 0.0% Aquarius Platinum Limited AQP N 157 15104040 1 6 16.7% 0 10 0.0% B.H.P. Billiton Limited BHP Y 1 15104020 1 12 8.3% 0 13 0.0% Bluescope Steel Limited BSL Y 37 15104050 1 8 12.5% 1 7 14.3% Limited BLD Y 45 15102010 1 7 14.3% 1 12 8.3% C.S.R. Limited CSR Y 71 15102010 1 6 16.7% 1 12 8.3% Capral Aluminium Limited CAA N 191 15104010 0 7 0.0% 0 9 0.0% Centennial Coal Company Limited CEY N 140 15104020 0 6 0.0% 1 14 7.1% Croesus Mining NL CRS N 196 15104030 0 4 0.0% 1 10 10.0% Great Southern Plantations Limited GTP N 131 15105010 1 5 20.0% 3 11 27.3% Gunns Limited GNS N 102 15105010 0 6 0.0% 0 1 0.0% Hardman Resources Ltd HDR N 94 10102020 0 5 0.0% 1 6 16.7% Limited ILU N 107 15104020 1 8 12.5% 0 6 0.0% NV JHX Y 54 15102010 0 11 0.0% 0 6 0.0% Jubilee Mines NL JBM N 153 15104020 0 5 0.0% 0 6 0.0% ASX200 organisation data by industry incorporating trusts 20 Appendix 1 continued

Women Total % Women Women Total % Women ASX BCA ASX Sub- Board Board Board Executive Executive Executive Company Code Member Rank Industry Directors Directors Directors Managers Managers Managers Kingsgate Consolidated Limited KCN N 181 15104030 0 5 0.0% 0 5 0.0% Lihir Gold Limited LHG N 92 15104030 0 6 0.0% 0 12 0.0% Lion Selection Group Limited LSG N 194 15104030 0 4 0.0% 4 11 36.4% Minara Resources Limited MRE N 104 15104020 0 9 0.0% 0 4 0.0% Limited NCM N 39 15104030 1 6 16.7% 0 8 0.0% Limited NUF N 109 15101030 0 8 0.0% 0 9 0.0% One Steel Limited OST Y 84 15104050 1 7 14.3% 0 10 0.0% Limited ORI Y 43 15101020 1 9 11.1% 1 8 12.5% Oxiana Limited OXR N 113 15104030 0 5 0.0% 0 7 0.0% Paperlinx Limited PPX Y 68 15105020 1 9 11.1% 0 10 0.0% Portman Limited PMM N 180 15104020 1 6 16.7% 0 5 0.0% Rinker Group Limited RIN N 24 15102010 0 6 0.0% 2 10 20.0% Limited RIO Y 8 15104020 0 14 0.0% 1 13 7.7% Sims Group Limited SMS Y 108 15104020 0 6 0.0% 1 7 14.3% Smorgon Steel Group Limited SSX Y 114 15104050 0 8 0.0% 0 8 0.0% Sons of Gwalia Limited SGW N 148 15104030 0 4 0.0% 0 7 0.0% Wattyl Limited WYL N 183 15101050 1 5 20.0% 1 7 14.3% WMC Resources Limited WMR Y 35 15104020 1 9 11.1% 0 5 0.0% Zinifex Limited ZFX Y 118 15104020 0 6 0.0% 0 3 0.0% Media 10 120 8.3% 26 169 15.4% A.P.N. News and Media Limited APN N 72 25401040 1 12 8.3% 0 8 0.0% Austereo Group Limited AEO N 143 25401020 0 8 0.0% 6 14 42.9% John Fairfax Holdings Limited FXJ N 49 25401040 2 9 22.2% 2 9 22.2% Macquarie Communications Infrastructure Group* MCG N 142 25401020 0 5 0.0% 5 11 45.5% News Corporation Limited (The) NCP N 7 25401030 0 15 0.0% 2 16 12.5% PMP Limited PMP N 155 25401040 1 7 14.3% 0 14 0.0% Publishing and Broadcasting Limited PBL Y 21 25401020 1 11 9.1% 1 11 9.1% Record Investments Limited RCD N 139 40203030 1 6 16.7% 1 6 16.7% Seven Network Limited SEV N 101 25401020 1 8 12.5% 4 21 19.1% Southern Cross Broadcasting (Australia) Limited SBC N 128 25401020 1 7 14.3% 2 19 10.5% STW Communications Group Limited SGN N 145 25401010 1 8 12.5% 0 3 0.0% Ten Network Holdings Limited TEN N 96 25401020 1 11 9.1% 1 14 7.1% Village Roadshow Limited VRL N 162 25401030 0 8 0.0% 1 12 8.3% West Australian Newspapers Holdings Limited WAN N 83 25401040 0 5 0.0% 1 11 9.1% Pharmaceuticals & Biotechnology 2 22 9.1% 3 36 8.3% C.S.L. Limited CSL N 40 35201010 1 8 12.5% 0 9 0.0% Chemeq Limited CMQ N 161 35201010 0 4 0.0% 0 6 0.0% Novogen Limited NRT N 150 35202010 1 6 16.7% 3 13 23.1% Peptech Limited PTD N 190 35201010 0 4 0.0% 0 8 0.0% Real Estate 10 201 5.0% 47 285 16.5% Australand Property Group ALZ N 89 40401020 0 8 0.0% 1 8 12.5% Bunnings Warehouse Property Trust* BWP N 156 40401010 0 4 0.0% 0 1 0.0% Centro Properties Group CEP N 58 40401010 0 5 0.0% 1 7 14.3% CFS Gandel Retail Trust* GAN N 56 40401010 0 5 0.0% 2 7 28.6% Commonwealth Property Office Fund* CPA N 78 40401010 0 5 0.0% 0 7 0.0% Deutsche Diversified Trust* DDF N 97 40401010 0 7 0.0% 4 17 23.5% Deutsche Industrial Trust* DIT N 141 40401010 0 7 0.0% 6 16 37.5% Deutsche Office Trust* DOT N 88 40401010 0 7 0.0% 7 19 36.8% F.K.P. Limited FKP N 171 40401020 0 7 0.0% 1 9 11.1% Galileo Shopping America Trust* GSA N 182 40401010 1 5 20.0% 3 7 42.9% General Property Trust* GPT N 26 40401010 1 8 12.5% 1 10 10.0% ING Industrial Fund* IIF N 91 40401010 0 5 0.0% 1 4 25.0% ING Office Fund* IOF N 106 40401010 0 5 0.0% 1 4 25.0% Investa Property Group IPG N 53 40401010 1 6 16.7% 0 8 0.0% James Fielding Group JFG N 166 40401010 0 7 0.0% 1 11 9.1% Lend Lease Corporation LLC Y 42 40401020 1 6 16.7% 2 11 18.2% 21

Women Total % Women Women Total % Women ASX BCA ASX Sub- Board Board Board Executive Executive Executive Company Code Member Rank Industry Directors Directors Directors Managers Managers Managers Macquarie Countrywide Trust* MCW N 105 40401010 0 5 0.0% 2 5 40.0% Macquarie DDR Trust* MDT N 127 40401010 0 8 0.0% 1 5 20.0% Macquarie Goodman Industrial Trust* MGI N 55 40401010 1 5 20.0% 2 6 33.3% Macquarie Office Trust* MOF N 100 40401010 0 7 0.0% 2 6 33.3% Macquarie ProLogis Trust* MPR N 126 40401010 0 8 0.0% 1 6 16.7% Group MGR N 51 40401010 1 9 11.1% 0 12 0.0% Principal America Office Trust* PAO N 125 40401010 1 5 20.0% 1 12 8.3% Ronin Property Group RPH N 111 40401010 0 5 0.0% 1 9 11.1% SGP Y 33 40401010 0 8 0.0% 4 9 44.4% Thakral Holdings Group THG N 168 40401010 0 7 0.0% 0 6 0.0% Valad Property Group VPG N 189 40401010 0 6 0.0% 2 12 16.7% Westfield America Trust* WFA N 20 40401010 1 10 10.0% 0 17 0.0% Westfield Holdings Limited WSF N 19 40401010 1 11 9.1% 0 17 0.0% Westfield Trust* WFT N 17 40401010 1 10 10.0% 0 17 0.0% Retailing 3 43 7.0% 9 50 18.0% Colorado Group Limited CDO N 158 25504010 1 6 16.7% 2 9 22.2% David Jones Limited DJS Y 133 25503010 1 7 14.3% 3 11 27.3% Holdings Limited HVN N 52 25503020 1 10 10.0% 1 5 20.0% Housewares International Limited HWI N 186 25501010 0 7 0.0% 2 8 25.0% Miller’s Retail Limited MRL N 174 25504010 0 5 0.0% 0 7 0.0% Corporation Limited RCL N 163 25501010 0 8 0.0% 1 10 10.0% Software & Services 3 25 12.0% 6 31 19.4% Baycorp Advantage Limited BCA N 136 45102020 1 7 14.3% 3 10 30.0% Limited CPU N 75 45102020 1 7 14.3% 1 7 14.3% Infomedia Limited IFM N 187 45103010 1 6 16.7% 1 9 11.1% IRESS Market Technology Limited IRE N 173 45102020 0 5 0.0% 1 5 20.0% Technology Hardware & Equipment 0 13 0.0% 2 25 8.0% E.R.G. Limited ERG N 197 45203010 0 5 0.0% 1 14 7.1% Vision Systems Limited VSL N 195 45203010 0 8 0.0% 1 11 9.1% Telecommunication Services 4 19 21.1% 2 17 11.8% Telecom Corporation of New Zealand Limited TEL Y 15 50101020 2 7 28.6% 2 9 22.2% Corporation Limited TLS Y 6 50101020 2 12 16.7% 0 8 0.0% Transportation 4 71 5.6% 10 76 13.2% Adsteam Marine Limited ADZ N 169 20305030 0 7 0.0% 0 7 0.0% Australian Infrastructure Fund* AIX N 167 20301010 0 6 0.0% 0 1 0.0% Macquarie Airports* MAP N 63 20305010 1 8 12.5% 6 14 42.9% Macquarie Infrastructure Group* MIG N 28 20305020 0 7 0.0% 0 3 0.0% Patrick Corporation Limited PRK N 50 20305030 0 4 0.0% 0 10 0.0% Prime Infrastructure Group PIF N 149 20305030 1 6 16.7% 1 5 20.0% Airways Limited QAN Y 27 20302010 1 11 9.1% 1 14 7.1% The Hills Motorway Limited HLY N 86 20305020 0 7 0.0% 0 2 0.0% Toll Holdings Limited TOL N 48 20304020 0 7 0.0% 0 8 0.0% Group TCL N 57 20305020 1 8 12.5% 2 12 16.7% Utilities 5 50 10.0% 7 54 13.0% Alinta Limited ALN N 81 55102010 2 6 33.3% 2 11 18.2% Australian Gas Light Company AGL Y 36 55102010 1 8 12.5% 1 10 10.0% Australian Pipeline Trust* APA N 137 55102010 0 7 0.0% 0 5 0.0% Energy Developments ENE N 170 55101010 0 8 0.0% 1 9 11.1% Envestra Limited ENV N 122 55102010 0 8 0.0% 1 7 14.3% GasNet Australia GAS N 175 55102010 1 5 20.0% 2 7 28.6% Pacific Hydro Limited PHY N 165 55101010 1 8 12.5% 0 5 0.0%

* Property and Investment Trusts or Entities are not included in the main analysis. For destails, see Methodology on page 16. business council of australia member organisation data by name 22 Appendix 2

Women Total % Women Women Total % Women Women Total % Women Parent Parent Parent Aust’n Aust’n Aust’n Aust’n Aust’n Aust’n ASX200 Board Board Board Advisory Advisory Advisory Women Total % Women Executive Executive Executive Company Company Directors Directors Directors Board Board Board Partners Partners Partners Managers Managers Managers A.B.B. Australia Limited N 0 8 0.0% 0 3 0.0% n/a 2 9 22.2% A.C.I. Packaging N 1 10 10.0% 0 0 0.0% n/a 0 10 0.0% A.M.P. Limited Y 2 7 28.6% n/a n/a 1 8 12.5% A.W.B. Limited Y 1 12 8.3% n/a n/a 2 10 20.0% ABN Amro Australia Limited N 0 6 0.0% 1 10 10.0% n/a 1 10 10.0% Accenture N 2 15 13.3% 0 0 0.0% n/a 3 15 20.0% Alcoa World Alumina N 2 11 18.2% 0 0 0.0% n/a 1 12 8.3% Australia Allens Arthur Robinson N 3 14 21.4% n/a 30 184 16.3% 2 9 22.2% Alumina Limited Y 0 5 0.0% n/a n/a 0 3 0.0% Amcor Limited Y 1 7 14.3% n/a n/a 0 6 0.0% Australia and New Zealand Y 1 8 12.5% n/a n/a 2 16 12.5% Banking Group Limited Australia Post N 3 8 37.5% n/a n/a 2 11 18.2% Australian Gas Light Y 1 8 12.5% n/a n/a 1 10 10.0% Company Australian Stock Exchange Y 2 8 25.0% n/a n/a 3 11 27.3% Limited B.H.P. Billiton Limited Y 1 12 8.3% n/a n/a 0 13 0.0% B.O.C. Limited N 2 12 16.7% 0 4 0.0% n/a 3 23 13.0% B.P. Australasia N 1 18 5.6% - n/a - Bendigo Bank Limited Y 1 8 12.5% n/a n/a 4 13 30.8% Blake Dawson Waldron N 1 7 14.3% n/a 34 201 16.9% 3 8 37.5% Bluescope Steel Limited Y 1 8 12.5% n/a n/a 1 7 14.3% Boeing Australia Limited N 2 10 20.0% 0 0 0.0% n/a 0 11 0.0% Boral Limited Y 1 7 14.3% n/a n/a 1 12 8.3% Brambles Industries Limited Y 0 10 0.0% n/a n/a 2 10 20.0% British American Tobacco N 1 12 8.3% - n/a - Australasia Limited C.S.R. Limited Y 1 6 16.7% n/a n/a 1 12 8.3% Caltex Australia Limited Y 1 6 16.7% n/a n/a 2 9 22.2% Citigroup Australia and New N 1 17 5.9% 0 0 0.0% n/a 1 8 12.5% Zealand Coca-Cola Amatil Limited Y 1 8 12.5% n/a n/a 0 6 0.0% Coles Myer Limited Y 2 11 18.2% n/a n/a 2 16 12.5% Commonwealth Bank of Y 2 12 16.7% n/a n/a 0 11 0.0% Australia Corrs Chambers Westgarth N 0 7 0.0% n/a 20 117 17.1% 2 9 22.2% Credit Suisse First Boston N 0 9 0.0% - n/a - CSC Australia Pty. Limited N 0 10 0.0% 4 4 100.0% n/a 3 14 21.4% David Jones Limited Y 1 7 14.3% n/a n/a 3 11 27.3% Deloitte Touche Tohmatsu N 2 34 5.9% 1 10 10.0% 30 238 12.6% 0 10 0.0% Deutsche Bank AG N 0 11 0.0% 0 0 0.0% n/a 0 11 0.0% Duke Energy International- N 1 11 9.1% 2 5 40.0% n/a 3 8 37.5% Asia Pacific DuPont Australia Limited N 3 12 25.0% 0 5 0.0% n/a 0 5 0.0% EDS N 2 8 25.0% 0 8 0.0% n/a 0 8 0.0% ENERGEX Limited N 5 13 38.5% n/a n/a 1 10 10.0% Energy Australia N 1 6 16.7% n/a n/a 3 11 27.3% Ernst and Young Australia N 2 16 12.5% n/a 28 278 10.1% 1 13 7.7% ExxonMobil Australia N 2 10 20.0% 1 13 7.7% n/a 1 13 7.7% Pty. Limited Foster’s Group Limited Y 1 6 16.7% n/a n/a 0 10 0.0% Freehills N 1 9 11.1% n/a n/a 0 6 0.0% Goldman Sachs JBWere N 0 16 0.0% 0 16 0.0% 5 93 5.4% 5 106 4.7% Pty. Limited Hanson Australia Pty. Limited N 1 9 11.1% 1 5 20.0% n/a 1 11 9.1% N 4 9 44.4% n/a n/a 4 9 44.4% IBM Australia Pty. Limited N 2 13 15.4% 0 4 0.0% n/a 7 29 24.1% ING Australia N 1 9 11.1% 1 9 11.1% n/a 2 11 18.2% 23

Women Total % Women Women Total % Women Women Total % Women Parent Parent Parent Aust’n Aust’n Aust’n Aust’n Aust’n Aust’n ASX200 Board Board Board Advisory Advisory Advisory Women Total % Women Executive Executive Executive Company Company Directors Directors Directors Board Board Board Partners Partners Partners Managers Managers Managers Insurance Australia Group Y 2 8 25.0% n/a n/a 2 13 15.4% James Hardie Industries NV Y 0 11 0.0% n/a n/a 0 6 0.0% JP Morgan Administrative N 2 12 16.7% 3 24 12.5% n/a 2 18 11.1% Services Limited KPMG N 0 19 0.0% 1 9 11.1% 29 292 9.9% 0 7 0.0% Kraft Foods Australia N - - n/a - Leighton Holdings Limited Y 0 12 0.0% n/a n/a 1 9 11.1% Lend Lease Corporation Y 1 6 16.7% n/a n/a 2 11 18.2% Macquarie Bank Limited Y 2 11 18.2% n/a n/a 0 15 0.0% Mallesons Stephen Jaques N 2 13 15.4% n/a 34 196 17.3% 5 8 62.5% Mayne Group Limited Y 2 8 25.0% n/a n/a 0 11 0.0% McDonald’s Australia Limited N 0 14 0.0% 1 10 10.0% n/a 3 11 27.3% Medical Benefits Fund of N 2 8 25.0% n/a n/a 3 7 42.9% Australia Limited Microsoft Australia N 1 8 12.5% 0 0 0.0% n/a 1 12 8.3% Minter Ellison & Associated N 0 12 0.0% 0 0 0.0% 24 167 14.4% 0 6 0.0% Entities Mitsui & Co (Australia) N 0 11 0.0% 0 6 0.0% n/a 0 6 0.0% Limited National Australia Bank Y 1 9 11.1% n/a n/a 1 12 8.3% Limited One Steel Limited Y 1 7 14.3% n/a n/a 0 10 0.0% Orica Limited Y 1 9 11.1% n/a n/a 1 8 12.5% Origin Energy Limited Y 1 7 14.3% n/a n/a 1 11 9.1% P and O Australia Limited N 0 10 0.0% 1 7 14.3% n/a 2 6 33.3% Paperlinx Limited Y 1 9 11.1% n/a n/a 0 10 0.0% Perpetual Trustees Australia Y 2 8 25.0% n/a n/a 1 9 11.1% Limited PriceWaterhouseCoopers N 1 18 5.6% 2 11 18.2% 54 362 14.9% 0 10 0.0% Services Pty. Ltd. Publishing and Broadcasting Y 1 11 9.1% n/a n/a 1 11 9.1% Limited Qantas Airways Limited Y 1 11 9.1% n/a n/a 1 14 7.1% Rio Tinto Limited Y 0 14 0.0% n/a n/a 1 13 7.7% Santos Limited Y 1 7 14.3% n/a n/a 2 16 12.5% Sims Group Limited Y 0 6 0.0% n/a n/a 1 7 14.3% SingTel Optus N 0 9 0.0% 0 0 0.0% n/a 1 6 16.7% Smorgon Steel Group Limited Y 0 8 0.0% n/a n/a 0 8 0.0% St. George Bank Limited Y 2 8 25.0% n/a n/a 1 9 11.1% Stockland Y 0 8 0.0% n/a n/a 4 9 44.4% Suncorp-Metway Limited Y 1 9 11.1% n/a n/a 2 8 25.0% Telecom Corporation of New Y 2 7 28.6% n/a n/a 2 9 22.2% Zealand Limited Telstra Corporation Limited Y 2 12 16.7% n/a n/a 0 8 0.0% The Boston Consulting Group N 0.0% 25.0% n/a - The Communications Group N 0 3 0.0% n/a n/a 1 6 16.7% The Shell Company of N 0 9 0.0% 0 4 0.0% n/a 2 11 18.2% Australia Pty. Ltd. Toyota Motor Corporation N 0 8 0.0% 0 8 0.0% n/a 0 8 0.0% Australia Pty. Ltd. UBS Warburg Australia N - n/a n/a - Holdings Ltd. Visy Industries N 0 0 - n/a n/a 1 17 5.9% Wesfarmers Limited Y 1 12 8.3% n/a n/a 0 10 0.0% Westpac Banking Corporation Y 2 9 22.2% n/a n/a 2 9 22.2% WMC Resources Limited Y 1 9 11.1% n/a n/a 0 5 0.0% Woodside Petroleum Limited Y 1 10 10.0% n/a n/a 0 11 0.0% Woolworths Limited Y 2 6 33.3% n/a n/a 0 10 0.0% Zinifex Limited Y 0 6 0.0% n/a n/a 0 3 0.0% Total 106 928 11.4% 19 175 10.9% 288 2128 13.5% 123 1028 12.0%

- Denotes data that was unable to be sourced from publicly-available information and could not to be obtained directly from the organisation. n/a Denotes data category not applicable ASX200 summary data incorporating trusts 24 Appendix 3

Number Of Total % Of Gender Data Women Number Women

Chairs 2 197 1.0% CEOs 6 197 3.0% Board Directors 119 1456 8.2% Highest Title Positions 9 256 3.5% Line Executive Management Positions 82 1091 7.5% Support (Staff) Executive Management Positions 130 590 22.0% Executive Managers 219 1914 11.4%

Women Total % Of Company Data Executive Executive % Of Number Of Total Executive Managers Managers Managers Women Companies Companies

Companies With Two Or More Women Executive Managers 154 642 24.0% 52 26.4% Companies With At Least One Woman Executive Manager 219 1264 17.3% 117 59.4% Companies With One Woman Executive Manager 65 622 10.5% 65 33.0% Companies Without A Woman Executive Manager 0 650 0.0% 80 40.6% Companies With 25% Or More Women Executive Managers 93 274 33.9% 27 13.7% All Companies 219 1914 11.4% 197 100.0%

Women Total Number % Of Company Data Board Board % Of Of Total Board Directors Directors Directors Women Companies Companies

Companies With Two Or More Women Board Directors 40 166 24.1% 20 10.2% Companies With At Least One Woman Board Director 119 782 15.2% 99 50.3% Companies With One Woman Board Director 79 616 12.8% 79 40.1% Companies Without A Woman Board Director 0 674 0.0% 98 49.7% Companies With 25% Or More Women Board Directors 14 28 50.0% 102 51.8% All Companies 119 1456 8.2% 197 100.0% 25 ASX200 summary data excluding trusts Appendix 4

Number Of Total % Of Gender Data Women Number Women Chairs 2 174 1.1% CEOs 4 174 2.3% Board Directors 112 1307 8.6% Highest Title Positions 7 226 3.1% Line Executive Management Positions 64 985 6.5% Support (Staff) Executive Management Positions 105 526 20.0% Executive Managers 174 1714 10.2%

Women Total % Of Company Data Executive Executive % Of Number Of Total Executive Managers Managers Managers Women Companies Companies Companies With Two Or More Women Executive Managers 115 534 21.5% 42 24.1% Companies With At Least One Woman Executive Manager 174 1115 15.6% 101 58.0% Companies With One Woman Executive Manager 59 581 10.2% 59 33.9% Companies Without A Woman Executive Manager 0 599 0.0% 73 42.0% Companies With 25% Or More Women Executive Managers 56 175 32.0% 16 9.2% All Companies 174 1714 10.2% 174 100.0%

Women Total Number % Of Company Data Board Board % Of Of Total Board Directors Directors Directors Women Companies Companies Companies With Two Or More Women Board Directors 40 166 24.1% 20 11.5% Companies With At Least One Woman Board Director 112 731 15.3% 92 52.9% Companies With One Woman Board Director 72 565 12.7% 72 41.4% Companies Without A Woman Board Director 0 576 0.0% 82 47.1% Companies With 25% Or More Women Board Directors 28 102 27.5% 14 8.0% All Companies 112 1307 8.6% 174 100.0%

ASX200 summary industry data excluding trusts Appendix 5

Women Total % Women Women Total % Women Board Board Board Executive Executive Executive Industry Directors Directors Directors Managers Managers Managers Automobiles & Components 0 12 0.0% 1 15 6.7% Banks 11 70 15.7% 14 91 15.4% Capital Goods 4 56 7.1% 5 83 6.0% Commercial Services & Supplies 1 62 1.6% 7 74 9.5% Consumer Durables & Apparel 2 13 15.4% 0 22 0.0% Diversified Financials 10 61 16.4% 10 69 14.5% Energy 4 69 5.8% 8 101 7.9% Food & Drug Retailing 5 49 10.2% 6 66 9.1% Food Beverage & Tobacco 5 79 6.3% 4 91 4.4% Health Care Equipment & Services 8 81 9.9% 22 141 15.6% Hotels Restaurants & Leisure 5 41 12.2% 2 61 3.3% Insurance 8 52 15.4% 9 69 13.0% Materials 15 247 6.1% 19 288 6.6% Media 10 115 8.7% 21 158 13.3% Pharmaceuticals & Biotechnology 2 22 9.1% 3 36 8.3% Real Estate 4 85 4.7% 13 119 10.9% Retailing 3 43 7.0% 9 50 18.0% Software & Services 3 25 12.0% 6 31 19.4% Technology Hardware & Equipment 0 13 0.0% 2 25 8.0% Telecommunication Services 4 19 21.1% 2 17 11.8% Transportation 3 50 6.0% 4 58 6.9% Utilities 5 43 11.6% 7 49 14.3% Total 112 1307 8.6% 174 1714 10.2% methodology 26 What differentiates this research on the status of women As part of the data collection and validation process, in leadership is that it employs a census rather than a letter was sent to the CEOs of the ASX200 Index survey methodology. This census methodology, companies and BCA member organisations, co-signed licensed from the leading US research and advisory by Susan Biggs, then Acting Director of EOWA and organisation, Catalyst, ensures that all members of John McFarlane, CEO of ANZ. This letter outlined the the target population are counted, providing a precise intention behind the EOWA Census and its importance picture of women’s status and progress that is to understanding the contribution women make to comparable from year to year. corporate Australia. Organisations were encouraged to contact the Macquarie University researchers directly Catalyst’s methodology literally involves counting to nominate the person who would be responsible for the number of women and men in leadership positions. providing information. The researchers then provided companies with the opportunity to confirm the accuracy of their data and Copies of company annual reports submitted to the this year achieved the highest validation rate yet of Australian Stock Exchange for the period 1 July 2003 to 95.4%. Where companies did not validate their data, 30 June 2004 were obtained and reviewed. Data were the publicly-available information is published here summarised from these reports. Initial contact was without verification. It is Catalyst’s experience that with made by telephone to establish who the relevant person a survey based on voluntary participation, companies was and to agree on a process for validation. For most with a high proportion of women are more likely to organisations, the information was emailed to the complete the questionnaire than those without women. relevant person for validation. The analysis in this report is based on the companies For BCA companies, information was obtained either listed on the ASX200 Index (see Glossary) as at 30 June from annual reports accessed from company websites 2004 and where indicated, on member companies of or by contacting the companies directly. For some the Business Council of Australia (BCA). The information companies, information was not able to be obtained presented for each company is current as at the date because it is not publicly available. of their annual report released during the period Methodological issues were encountered in coding 1 July 2003 and 30 June 2004. Where no annual report the data from a number of BCA companies. The two date was applicable, the data are presented as at most common issues were that: (i) Some companies, 30 December 2003 or 30 June 2004 (as determined while having a board for the parent organisation, also by each applicable company). had a local advisory board. To take account of this, The number of companies included in what is referred both sets of data are provided in Appendix 2. (ii) Some to as the ‘ASX200’ throughout the main analysis is organisations are based on a partnership structure 174. To arrive at this number, the ASX200 Index list of (eg. Law firms). To take account of this, data are also 200 companies was first reduced to 197 because 3 provided on women partners, where appropriate. companies were listed twice as there were different Several companies did not respond to these initial types of securities listed by the same company enquiries and therefore additional contact was made (eg. ordinary shares and preferences). Further, the 23 urging companies to respond to enable their data organisations that were listed as property or investment to be validated. For ASX200 companies, 95.4% were trusts or entities were researched but not included validated and for BCA companies the validation rate in the main analysis. The full ASX200 Index list of was 93.8%. This process involved: organisations, together with a summary of the findings including trusts, is included in the appendices. However, • Validating the company’s total number of Board because trusts do not technically have employees, Directors and the gender of each person. and in some cases double up the statistics of a listed • Validating the company’s total number and titles of company with employees, these organisations have Executive Managers, whether the position was Line been excluded in the calculations of overall findings. or Support and the gender of each person. This also ensures that there is comparability with the 2002 and 2003 EOWA Census findings. The total number of BCA member organisations analysed is 97. Of these companies, 48 are also in the ASX200. 27 glossary of terms As has been acknowledged in previous US and ASX200 Index: “Comprises the S&P/ASX100 plus an Canadian Census reports, defining the Executive additional 100 stocks, with an emphasis on liquidity Management group in an organisation is challenging, and investability. Representing the top two tiers of and at times it is difficult to know if comparisons S&P/ASX300 stocks, the S&P/ASX200 Index provides across companies are valid. Companies also vary investors and fund managers with an effective considerably in the level of information provided in benchmark for Australian equity performance, yet with their annual report. They are required to identify the an emphasis on broader representation. There will five highest remunerated officers and provide details always be a fixed number of companies, 200, in this of their remuneration. The level of information provided index. When an index constituent is removed, it will be (eg. gender, title), varies from one company report immediately replaced by a company in the S&P/ASX300, to another. A significant number of companies, but which is not in the S&P/ASX200 index.” however, do provide full details of their Executive www.asx.com.au Management group. ASX200: Refers to ASX200 Index companies as at In coding the titles of the Executive Managers, we have 30 June 2004, excluding property and investment used the system previously developed by Catalyst. In a trusts and entities, unless otherwise stated. The total small number of cases, titles could not be coded. number of companies is 174. See Methodology for details. The industry coding system used was that applied by the Australian Stock Exchange, the Global Industry Board Directors: Those holding a seat on a company Classification Standard (GICS). board, including executive and non-executive members. Census data from across the world are comparable Business Council of Australia: “An association of chief because each country collects data on what is considered executives of leading Australian corporations with a the most relevant group of companies in that country: combined national work force of almost one million people. It was established in 1983 to provide a forum • In the US, data are collected on companies ranked in for Australian business leadership to contribute directly the Fortune 500 (F500). In 2002, this group of private- to public policy debates in order to build a better and sector employers generated $7 trillion in revenues more prosperous Australian society.” www.bca.com.au and employed over 24 million people. Executive Managers: The most senior person in the • In Canada, data are collected on companies ranked in organisation (eg. CEO, MD) and those who report directly the National Post’s Financial Post 500 list (the ‘FP500’). to that person, including those based outside Australia. Catalyst uses this list because it comprises the largest Canadian companies and is widely recognised in Global Industry Coding System (GICS) “a joint Canada as the standard measure of corporate Standard and Poor’s/Morgan Stanley Capital International performance and market prominence. product aimed at standardising industry definitions. To bring Australia in line with the rest of the world, • In South Africa, data are collected for 364 companies, Standard and Poor’s have reclassified all ASX listed comprising 17 of the largest State Owned Enterprises entities according to GICS. The Australian market has (SOEs) and every company listed on the main board traditionally been associated with 24 industry sectors of the JSE Securities Exchange (JSE) (excluding unique to this country. GICS consists of 10 economic venture capital and development capital firms, sectors aggregated from 23 industry groups, 59 firms listed on the JSW but with all operations industries and 122 sub-industries, currently covering overseas or in other African countries, and over 12,000 companies globally.” For a full listing go to suspended companies). www.asx.com.au Highest Title Positions: Positions defined as yielding the most influence and policy making power in organisations: CEO, Chairman, Vice-Chairman, President, Chief Operating Officer, Senior Executive Vice- President, and Executive Vice-President. Line Roles: Positions with responsibility for profit- and-loss or direct client service. These include the CEO, Operations Manager, Marketing Director, Sales Directors, head of a particular business unit, etc. Support (Staff) Roles: Positions that have more of a corporate role with responsibility for supporting main (or line) business functions. These include Human Resources Director, Business Affairs/Legal Director, Public Relations Manager, Asset Manager, etc. ASX200 blue ribbon lists organisations leading the way 28 ASX200 organisations with two or more ASX200 organisations with two or more women board directors women executive managers

AMP Limited AWB Limited Adelaide Bank Limited AXA Asia Pacific Holdings Limited Alinta Limited Alinta Limited Australian Stock Exchange Limited Austereo Group Limited Billabong International Limited Australia and New Zealand Banking Group Limited Coles Myer Limited Australian Stock Exchange Limited Commonwealth Bank of Australia Limited Insurance Australia Group Baycorp Advantage Limited John Fairfax Holdings Limited Bendigo Bank Limited Macquarie Bank Limited Brambles Industries Limited Mayne Group Limited Caltex Australia Limited Perpetual Trustees Australia Limited Coles Myer Limited Promina Group Limited Colorado Group Limited QBE Insurance Group Limited Corporate Express Australia Limited St. George Bank Limited David Jones Limited Telecom Corporation of New Zealand Limited Foodland Associated Limited Telstra Corporation Limited GasNet Australia Ventracor Limited Great Southern Plantations Limited Westpac Banking Corporation Healthscope Limited Woolworths Limited Henry Walker Eltin Group Limited Housewares International Limited Insurance Australia Group John Fairfax Holdings Limited Lend Lease Corporation Lion Selection Group Limited News Corporation Limited (The) Novogen Limited QBE Insurance Group Limited Resmed Incorporated Rinker Group Limited Santos Limited Seven Network Limited SFE Corporation Limited Sonic Healthcare Limited Southern Cross Broadcasting (Australia) Limited Stockland Suncorp-Metway Limited Telecom Corporation of New Zealand Limited Transurban Group Valad Property Group Ventracor Limited Westpac Banking Corporation 7511 LINC (61 3) 9654 8255 and BCA organisations who undertook the task the undertook who organisations BCA and EOWA thanks the many individuals in the ASX200 the in individuals manyEOWA the thanks acknowledgements and to the data validation and summary process summary and validationdata the to and data analysis by Dr Alan Dr TaylorFrenchby analysisJudy data and Stead.the to made werecontributions Significant Nicholas Schweickle,and Monica Smith Maureen were:data validatedthe Ringland,and Philippa withinDepartmentthePsychologyof collectedwho undergraduatedegree an in enrolled Students PsychologyDepartment.the from Russell Graeme ProfessorAssociateby directed was project The University. Macquarie at staff and students by Data collection and analyses were conducted conducted were analyses and collection Data analysis. our for data prepare to took it patience and time the companies’their verifying of data. Weappreciate would not be possible. be not would EOWAof LeadershipCensusAustralianWomen in University. Macquarie support,their the Without collaborator,and sponsor Esanda,gold and our and partner,our of Catalyst, sponsors,platinum our ANZ Finally, invaluablesupport EOWAthe acknowledges Russell. Kirstine by

women + men = business success www.eowa.gov.au

level 6, 1 elizabeth plaza north sydney nsw 2060 t +612 9448 8500 f +612 9448 8572 www.eowa.gov.au