VIEWPOINT
If Hong Kong really wants the strongest corporate governance , we must aim for 50 % women on our corporate boards , in management and in the workforce , so the clear next step is for all companies to set meaningful targets of at least 30 % by 2027
Fiona Nott CEO of The Women ’ s Foundation , a Hong Kong registered non-profit dedicated to improving the lives of women and girls in Hong Kong
How Hong Kong can seize the opportunity to improve boardroom diversity To fully capitalise on this opportunity , companies need to change their current approach to board appointments . Many listed companies in Hong Kong seek to appoint directors from within existing , primarily male-dominated networks , making it challenging for them to find a sufficient number of female board candidates .
Yet Hong Kong is teeming with highly talented women in a wide range of sectors . To tap into this talent pool , boards and companies should broaden their networks , look to support first-time female executive and non-executive directors , look beyond the typical candidate profiles , and consider women outside the city .
They should also consider employing an executive search firm with a track record of delivering a diverse range of suitable candidates and provide a clear brief , including diversity targets . These changes also represent an opportunity for companies to empower their own high-calibre female executives to serve as independent non-executive directors ( INEDs ) on external boards .
Board-nominating committees can play a more active role in succession planning , setting targets for and identifying diverse candidates , and transparently evaluating the board ’ s needs and performance to boost the number of female directors .
At The Women ’ s Foundation , we are urging companies to adopt this multipronged approach and have been long-time advocates for more diverse boards since launching the 30 % Club Hong Kong in 2013 . One of our main goals is to build the pipeline of women in executive and non-
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