Westpac CEO Gail Kelly is against mandating minimum numbers of women for company boards. Rather, she believes that diversity and gender equality should be "a specific and targeted area of focus" for organisations.
"I'm a passionate advocate about driving diversity at work, but in my view that does not necessarily mean mandating," Ms Kelly said today in her address to the QUT Business Leaders' Forum at the Hilton, Brisbane.
"I personally think mandated positions can have unforeseen consequences and unintended and poor outcomes."
She said that the ASX's "name and shame" approach was a great way to go.
"A conscious focus, name and shame approach where boards are held to account to have to explain their performance and their track record not only at board level, but actually at senior levels is the right way to go," Ms Kelly said.
She said that that the issue should not "start and stop at boards" though, and suggested that change should occur throughout organisations.
Thirty-six per cent of leadership positions at Westpac are currently held by women, and it is aiming to reach 40 per cent by 2014. However, Ms Kelly said she would not stop growing this number until it reached 50 per cent.
"Why accept less than 50 per cent?" she said.
She said to create this change, recruitment models, discussion forums, training programs, measures and rewards needed to be focused around gender equality.
She also said that role modelling within an organisation was important, citing Westpac's "diversity stars" - men and women within the organisation who tested ideas, confirmed diversity priorities and how to best implement them.
The QUT Business Leaders' Forum, open to the business community and members of the public, is a regular event hosted by QUT Business School, featuring top Australian and international business leaders.
The next forum will be held on Wednesday November 16, featuring National Australia Bank CEO Cameron Clyne.
Media contact: Michaela Ryan, QUT media officer, 07 3138 4494 or michaela.ryan@qut.edu.au
