KUALA LUMPUR: Public listed companies in Malaysia will need to address gender diversity at the board level – lest they be named and shamed by the Government from next year.
Announcing this, Prime Minister Datuk Seri Najib Tun Razak said the Government would name and shame companies with no women on their board from next January.
“Unfortunately, we still have 17 ‘Top 100’ public listed companies that have no women at all on their board. “This is just not good enough and I call on these companies to immediately address this lack of diversity,” Najib said during his keynote address at the 13th Invest Malaysia Kuala Lumpur here yesterday.
The female labour force participation rate in Malaysia, he said, has increased from 46% in 2009 to 54.3% last year, with over 700,000 more women in the workforce. Malaysia, said Najib, has reached its target of women making up 30% of top management. As of December last year, 1,446 out of a total of 4,960 people in top management, excluding chief executive officers, were women. “We want to go further though and have set 2020 as the date by which we want all public listed companies to have at least 30% women at board level. “Because we know that when women succeed, we all succeed,” Najib said.
Source: The Star Paper