Council for Board Diversity Singapore

Directors, mark your calendars for the SID Directors Conference 2024, on 1 October 2024. 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀𝗵𝗶𝗽 𝗶𝗻 𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻: 𝗥𝗲𝗱𝗲𝗳𝗶𝗻𝗶𝗻𝗴 𝗥𝗼𝗹𝗲𝘀, 𝗥𝗶𝘀𝗸𝘀 𝗮𝗻𝗱 𝗥𝗲𝘀𝘂𝗹𝘁𝘀 explores the evolving landscape of corporate governance. Whether you're a seasoned director or a newcomer to the boardroom, this one-day conference offers valuable opportunities to learn from peers, align with industry best practices and lead with confidence into the future of governance.   As a Community Partner, the Council for Board Diversity Singapore enjoys up to S$150 off the public rates. For more details and to utilise this partner privilege, visit https://lnkd.in/gMgyT5FA Singapore Institute of Directors #boarddiversity #boardofdirectors #corporategovernance

Our CBD Circle Luncheons continue from July through to September as we expand our circle and forge new connections.   It’s something all of us look forward to. Because in addition to the good food and stimulating conversation, we believe such introductions ultimately translate to more visibility and pathways for women in leadership – contributing to a more diverse and effective governance landscape.   Each occasion brings together seasoned board directors and newer or aspiring directors, so that the veterans may encourage an exchange of insights and experiences, while also getting acquainted with newer members of the board talent pool.   With “chemistry” and “trust” so often cited as a requisite for board appointments, we like to think these occasions help build familiarity. After all, it is the director network itself, particularly board leaders, that take on the critical role of 𝘴𝘱𝘰𝘯𝘴𝘰𝘳𝘴𝘩𝘪𝘱, directly advocating for candidates they believe have high potential to contribute well to a role.   A big thanks to all who have joined us at lunch. We look forward to catching up at the next CBD engagement!   Boon Chye Loh | Kay Kuok | Lian Sim Yeo | Suhaimi Zainul-Abidin | Swee Chen Goh | Janet Ang | Elaine Heng | Steven Phan | Sui Ling Cheah | Gwendolyn Gn | Grace Ho | Alice Lin | Jeann Low | Christine Pillsbury | Judy LEE | Yit Foon Chan | Susan Cheong | Maimoonah Hussain | Judy Ng | Jaclyn Seow | Chi Ling Chan | Yvonne Chan | Chin Yin Ong | Jeannie Ong | Jacqueline Tan | Christine Amour-Levar | Genevieve Ding | XueMin Hang | Ying Yuan Ng | Cheryl Goh | Nadia Yeo | Sandy Foo | Su Min Ling | Inez Ngian | Supriya Rao Patwardhan | Evy Wee | Chien Chien Wong #boarddiversity #boardofdirectors #diverseleadership #womenonboards #leadership

All sectors continue to make good progress in board gender diversity, shows the Council for Board Diversity Singapore’s mid-year data. As at end-June 2024: ⭐ Diversity of Top 100 Companies primary-listed on the Singapore Exchange (SGX) has climbed to 25.3% women on boards from 23.7% in end-2023 – a notable achievement. But with board appointments and cessations at an interim stage, we should wait for the final tally at the end of the year to say definitively whether gender diversity has achieved its ‘25% by 2025’ target ahead of time. (The target was introduced by the Council in 2019 to encourage board gender diversity. The next stage is 30% women on boards by 2030). ⭐ Across all SGX-listed companies, the proportion of women directors has also increased to 17.6% from 16.1% in end-2023 – the highest 6-month change since 2015, when the Council began studying data twice yearly. ⭐ Statutory boards continue to set pace with 34.2% of their board directorships held by women, up from 32.7% in end-2023. ⭐ Post-revision of the Charity Code of Governance, Top 100 Institutions of a Public Character continue to make diversity in-roads, with the number of women directors growing to 31.5%, up from 31% as at end-2023. In aggregate, all IPCs have reached 34.1%. Kudos to the business community, our public service and charity leaders for adopting board diversity – not just gender but also skill sets and experiences – which enriches decision-making, fosters innovation and strengthens the economic and social fabric! The increasing proportion of women directors we see today has also been the effort of a supportive government, active regulators, institutions that offer director development programmes, investors, benefactors and champions of diversity. Among them the Singapore Institute of Directors, Institute of Singapore Chartered Accountants (ISCA), and past and present members of the Council for Board Diversity. Importantly, tapping into a wider talent pool of both men and women is only the first step in embracing, embedding and harnessing broader diversity. Wishing everyone a very happy 59th National Day! Boon Chye Loh | Mildred Tan | Janet Ang | Azriman Mansor | Wai Ching Chan | Jonathan Eu | Junie Foo | Euleen Goh | Piyush Gupta | Neng Hsiu Han | Elaine Heng | Ho Hern Shin | Kay Kuok | Ai Hua Ong | Steven Phan | Suhaimi Zainul-Abidin | Ming T. #boarddiversity #womenonboards #diverseleadership #boardofdirectors #leadership

“Diversity, I think, is very important. In particular, in the social service sector. How can you have true empathy with an all-male board trying to determine what is best for the family, without the wisdom and input of women board members?” In this clip, social service veteran Dr Gerard Ee speaks on the role of board diversity in empathic leadership. The Chair of the Agency for Integrated Care (Singapore) and former chair of the Charity Council has been an active volunteer since the age of 10. Have a listen! #boarddiversity #charities #nonprofit #nonprofitgovernance

Preparing to be appointed to your first board role? Stop scrolling. Because board practitioners Janet Ang (Chairman of SISTIC Singapore, Public Transport Council, Singapore Polytechnic Board of Governors and Singapore Business Federation Foundation) and Sherman Kwek (Executive director and Group CEO, City Developments Limited), together with several women directors, have shared a few tips for securing that first corporate board appointment. 𝗚𝗲𝘁 𝘀𝘁𝗮𝗿𝘁𝗲𝗱: ✔ Refresh your online profile and enhance your digital footprint. ✔ Targeted networking through professional organisations or with people influential in board referrals is beneficial. ✔ Training on board matters may help widen perspectives, deepen professional experience, and prepare you for broader discussions at the board level. ✔ Obtain your company’s approval and boss’ support to sit on external boards. 𝗚𝗲𝘁 𝗮𝗵𝗲𝗮𝗱: 🎯 Increase visibility by gaining board experience on statutory boards, non-listed companies and non-profit organisations. 🎯 Organisations start looking for board directors a year in advance. Sound your interest in board roles and availability early. 🎯 Remember, board-readiness is a state of mind. Consider how your skills and interests may contribute to specific types of organisations. This allows you to respond quickly when opportunities arise, instead of saying "let me think about it". 🎯 Seek sponsorships or recommendations from bosses, clients, business leaders, or existing board directors, etc. This helps to substantiate your profile and testify to your strengths and board readiness. Give this video a watch! #boardofdirectors #womenonboards #firsttimedirectors #leadership

How does Singapore’s public sector fair in women’s representation in boardrooms?   Compared to companies and charities, expectedly better. Representing Singapore’s ethos and values, statutory boards role model progress in women’s participation on boards (WOB), collectively reaching 32.7% as at end-2023, a 10-percentage point increase from 2018.   ⭐ Of the 64 statutory boards, more than half (55%) have board compositions with at least 30% women, and one-in-five is chaired by a woman.   ⭐ The government ministries with the highest %WOB for the statutory boards under their charge: Ministry of Manpower, Ministry of Health, Ministry of Communications and Information.   🚧 While not a single statutory board has an all-male board, 8 have less than 20% women’s participation, with 3 having a lone woman director.   ⭐ Overall, one-third of all new board appointments in 2023 were to women.   Why it matters? In addition to the importance of reflecting the society they serve, statutory boards, with their span of reach, is in a unique position to talent-spot and appoint first-time directors with requisite competency – further growing the pool of board directors in Singapore. The Public Service Division has had a big hand in effectively driving progress for board diversity, identifying board-ready candidates for board succession planning as part of their work in building future-ready organisations and promoting good governance. More WOB details in the Council for Board Diversity Singapore’s Singapore Board Diversity Review. Or click the chart below.   Public Service Division | Ministry of Manpower | Ministry of Health (Singapore) | Ministry of Communications and Information #boarddiversity #diverseleadership #boardofdirectors #leadership

💡 Diversity has additional importance for charities as it fosters the inclusivity expected by the community. 👩⚕️ 👨💼 In terms of board gender diversity, Singapore’s top 100 largest charities* (by donation receipts) have leapt over the 30% mark to reach 31% women on boards (WOB) as at end-2023! This 1.7 percentage point increase from 29.3% in end-2022 is the sector’s most significant annual growth to date. Across all 673* Institutions of a Public Character (IPCs), the proportion of women’s participation on boards stands higher at 33.8%. Observers attribute much of this development to the revised Code of Governance for Charities and IPCs published by the Charity Council in April 2023. The regulatory focus on leadership was also complemented by engagement by organisations such as the Charity Council, Centre for Non-Profit Leadership, Institute of Singapore Chartered Accountants, Singapore Institute of Directors, and Council for Board Diversity. 💬 “𝘛𝘩𝘦 𝘱𝘳𝘰𝘨𝘳𝘦𝘴𝘴 𝘪𝘯 𝘸𝘰𝘮𝘦𝘯’𝘴 𝘱𝘢𝘳𝘵𝘪𝘤𝘪𝘱𝘢𝘵𝘪𝘰𝘯 𝘰𝘯 𝘣𝘰𝘢𝘳𝘥𝘴 𝘢𝘤𝘳𝘰𝘴𝘴 𝘵𝘩𝘦 𝘱𝘦𝘰𝘱𝘭𝘦, 𝘱𝘶𝘣𝘭𝘪𝘤 𝘢𝘯𝘥 𝘱𝘳𝘪𝘷𝘢𝘵𝘦 𝘴𝘦𝘤𝘵𝘰𝘳𝘴 𝘳𝘦𝘧𝘭𝘦𝘤𝘵𝘴 𝘢 𝘨𝘳𝘰𝘸𝘪𝘯𝘨 𝘳𝘦𝘤𝘰𝘨𝘯𝘪𝘵𝘪𝘰𝘯 𝘰𝘯 𝘵𝘩𝘦 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘤𝘦 𝘰𝘧 𝘩𝘢𝘷𝘪𝘯𝘨 𝘨𝘦𝘯𝘥𝘦𝘳 𝘥𝘪𝘷𝘦𝘳𝘴𝘦 𝘣𝘰𝘢𝘳𝘥𝘴. 𝘐𝘵 𝘪𝘴 𝘯𝘰𝘵 𝘫𝘶𝘴𝘵 𝘢 𝘮𝘦𝘵𝘳𝘪𝘤 𝘰𝘧 𝘨𝘰𝘰𝘥 𝘨𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦, 𝘣𝘶𝘵 𝘰𝘧 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯-𝘮𝘢𝘬𝘪𝘯𝘨 — 𝘨𝘪𝘷𝘪𝘯𝘨 𝘦𝘲𝘶𝘢𝘭 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘺 𝘵𝘰 𝘢𝘭𝘭 𝘸𝘩𝘰 𝘮𝘦𝘦𝘵 𝘵𝘩𝘦 𝘳𝘦𝘲𝘶𝘪𝘴𝘪𝘵𝘦𝘴 𝘢𝘯𝘥 𝘵𝘩𝘶𝘴 𝘵𝘢𝘱𝘱𝘪𝘯𝘨 𝘰𝘯 𝘢 𝘸𝘪𝘥𝘦𝘳 𝘵𝘢𝘭𝘦𝘯𝘵 𝘱𝘰𝘰𝘭. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘤𝘳𝘪𝘵𝘪𝘤𝘢𝘭 𝘢𝘴 𝘮𝘰𝘳𝘦 𝘵𝘩𝘢𝘯 𝘦𝘷𝘦𝘳 𝘣𝘦𝘧𝘰𝘳𝘦 𝘪𝘵 𝘵𝘢𝘬𝘦𝘴 𝘥𝘪𝘷𝘦𝘳𝘴𝘦 𝘱𝘦𝘳𝘴𝘱𝘦𝘤𝘵𝘪𝘷𝘦𝘴, 𝘴𝘬𝘪𝘭𝘭𝘴𝘦𝘵𝘴 𝘢𝘯𝘥 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦 𝘵𝘰 𝘵𝘢𝘤𝘬𝘭𝘦 𝘵𝘩𝘦 𝘤𝘰𝘮𝘱𝘭𝘦𝘹 𝘪𝘴𝘴𝘶𝘦𝘴 𝘰𝘧 𝘵𝘩𝘦 𝘧𝘶𝘵𝘶𝘳𝘦.” 𝗠𝗿 𝗠𝗮𝘀𝗮𝗴𝗼𝘀 𝗭𝘂𝗹𝗸𝗶𝗳𝗹𝗶, 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗳𝗼𝗿 𝗦𝗼𝗰𝗶𝗮𝗹 𝗮𝗻𝗱 𝗙𝗮𝗺𝗶𝗹𝘆 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 For more data points on board gender diversity in the charity sector, click the chart below, or visit our website (https://lnkd.in/gqdQdKYt) for the latest edition of the Singapore Board Diversity Review. * 𝘐𝘗𝘊𝘴 𝘸𝘪𝘵𝘩 𝘨𝘦𝘯𝘥𝘦𝘳 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤 𝘰𝘣𝘫𝘦𝘤𝘵𝘪𝘷𝘦𝘴 𝘳𝘦𝘴𝘶𝘭𝘵𝘪𝘯𝘨 𝘪𝘯 𝘴𝘪𝘯𝘨𝘭𝘦-𝘨𝘦𝘯𝘥𝘦𝘳 𝘣𝘰𝘢𝘳𝘥𝘴 𝘢𝘳𝘦 𝘦𝘹𝘤𝘭𝘶𝘥𝘦𝘥 𝘧𝘳𝘰𝘮 𝘵𝘩𝘪𝘴 𝘤𝘰𝘶𝘯𝘵. #nonprofit #nonprofitleadership #charityboards #charity #boarddiversity #diverseleadership #boardofdirectors

Are you male, 56 years old, with CEO experience and skilled in strategy and management? If this describes you, you are the “typical” new director that took on their first appointment at a top 100 SGX-listed company in 2023.   👨 👨 👩 Yes, women were appointed too. Of the record 71 first-time directors* appointed by these 100 largest Singapore-listed firms last year, 23 are women (basically, one woman director for every two male directors).   The 71 first-time directors range in age from 32 to 72.   70% were appointed as Independent Directors.   20% were appointed Non-Executive Non-Independent Directors.   And 10% were Executive directors.   Among this 2023 cohort, 80% have overseen revenue generating units, and 58% is a current or former CEO.   39% of the new directors have expertise in Strategy & Management, 38% in Finance & Investments and 7% have a Legal background.   💡 In fact, first-time directors account for 66% of all new appointments to the boards of top 100 listed companies last year, a noteworthy increase from 47% in 2022. We’ve been keeping count – in total, between 2018 and 2023, the top 100 appointed 310 first-time directors (51%) out of a total 606 new appointments.   💡 All these indicate a growing willingness to embrace fresh thinking and new skills as Singapore’s talent pool of directors and board-ready leaders expands. The new appointments also show that recent regulatory measures to encourage board renewals are being met with the spirit that was intended.   For more data points, click below, or visit our website (https://lnkd.in/g_gVEhxB) for the latest edition of the Singapore Board Diversity Review, published by Council for Board Diversity Singapore in collaboration with Nanyang Business School’s Centre for Sustainable Finance Innovation. *𝘋𝘦𝘧𝘪𝘯𝘦𝘥 𝘢𝘴 𝘢 𝘥𝘪𝘳𝘦𝘤𝘵𝘰𝘳 𝘸𝘩𝘰 𝘩𝘢𝘴 𝘯𝘰𝘵 𝘱𝘳𝘦𝘷𝘪𝘰𝘶𝘴𝘭𝘺 𝘣𝘦𝘦𝘯 𝘢𝘱𝘱𝘰𝘪𝘯𝘵𝘦𝘥 𝘵𝘰 𝘵𝘩𝘦 𝘣𝘰𝘢𝘳𝘥 𝘰𝘧 𝘢𝘯 𝘚𝘎𝘟-𝘭𝘪𝘴𝘵𝘦𝘥 𝘤𝘰𝘮𝘱𝘢𝘯𝘺. 𝘚𝘰𝘮𝘦 𝘧𝘪𝘳𝘴𝘵-𝘵𝘪𝘮𝘦 𝘥𝘪𝘳𝘦𝘤𝘵𝘰𝘳𝘴 𝘮𝘢𝘺 𝘩𝘢𝘷𝘦 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦 𝘰𝘯 𝘣𝘰𝘢𝘳𝘥𝘴 𝘰𝘧 𝘤𝘩𝘢𝘳𝘪𝘵𝘪𝘦𝘴, 𝘶𝘯𝘭𝘪𝘴𝘵𝘦𝘥 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴, 𝘴𝘵𝘢𝘵𝘶𝘵𝘰𝘳𝘺 𝘣𝘰𝘢𝘳𝘥𝘴, 𝘰𝘳 𝘰𝘵𝘩𝘦𝘳𝘴.   #boarddiversity #diverseleadership #boardofdirectors

More women are being appointed to board leadership roles 🌟   At end-2023, 17% of board leadership roles* at Top 100 SGX-listed companies were held by women, an increase from 9% in 2018, finds the latest Singapore Board Diversity Review released by the Council for Board Diversity Singapore in collaboration with Nanyang Business School’s Centre for Sustainable Finance Innovation (CSFI).   9 Top 100 companies were led by women board chairs, thrice the number in 2013. (Basically, in 2023, roughly 5 out of every 100 women directors chaired a Top 100 company board compared to 14 out of every 100 male directors.)   Women also held 20% of committee chair roles – Audit, Nominating and Remuneration committees – at Top 100 companies, doubling from 10% in 2018. Remuneration committees, which oversee talent management, an increasingly top-of-mind business issue, experienced the highest rise in women chairmanship, from 9% in 2018 to 24% at end 2023.   In 2023, women also held 23% of Audit, Nominating and Remuneration committee positions, up from 14% in 2018.   Why are we excited and encouraged by this development?   Because women taking on board leadership roles shows that women directors are actively engaged in board activities and decision-making. This notable increase could also help dispel notions of tokenism, as boards, in serving their firm’s strategic ambitions, appoint the most-suited candidate with the requisite competencies for leadership – regardless of gender.   💬 Share your thoughts in the comments!   *𝘉𝘰𝘢𝘳𝘥 𝘊𝘩𝘢𝘪𝘳𝘴 𝘢𝘯𝘥 𝘤𝘩𝘢𝘪𝘳𝘴 𝘰𝘧 𝘈𝘶𝘥𝘪𝘵, 𝘕𝘰𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘢𝘯𝘥 𝘙𝘦𝘮𝘶𝘯𝘦𝘳𝘢𝘵𝘪𝘰𝘯 𝘤𝘰𝘮𝘮𝘪𝘵𝘵𝘦𝘦𝘴.   #boarddiversity #diverseleadership #womenonboards #boardofdirectors

A preoccupation with numbers can overshadow the value-add board diversity brings to the boardroom. But the fact is, numbers enable a visible gauge of how well diversity is embraced.   So here’s the download from our newly released Singapore Board Diversity Review, which details women in boardroom stats and much, much more. The spirit of board diversity, after all, lies in seeing and addressing the big picture.   🧠 𝗠𝗼𝗿𝗲 𝘄𝗼𝗺𝗲𝗻 𝗮𝗽𝗽𝗼𝗶𝗻𝘁𝗲𝗱 𝘁𝗼 𝗯𝗼𝗮𝗿𝗱 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝗿𝗼𝗹𝗲𝘀: At Top 100 SGX-listed companies, women take on 17% of all board chair and audit, nominating and remuneration committee chair positions, up from 9% in 2018.   🏌♂️ 𝗔𝗹𝗹-𝗺𝗮𝗹𝗲 𝗯𝗼𝗮𝗿𝗱𝘀 𝗮𝗿𝗲 𝗱𝗼𝘄𝗻, 𝗯𝘂𝘁 𝗻𝗼𝘁 𝘂𝗻𝗰𝗼𝗺𝗺𝗼𝗻: 11 firms among the Top 100 have all-male boards, down from 51 in 2013. But across all listed companies, 38% of firms are still led by exclusively male boards.   ⛅ 𝗕𝗼𝗮𝗿𝗱 𝗿𝗲𝗷𝘂𝘃𝗲𝗻𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗿𝗶𝘀𝗲: The cap on independent director (ID) tenure has seen the proportion of long-serving IDs (≥ 9 years) fall to 5% in 2023 from 27% in 2016 – providing an opportunity for companies to inject new skills and experience. 💡 𝗔𝘁 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝘁𝗶𝗺𝗲, 𝘁𝗵𝗲 𝗽𝗼𝗼𝗹 𝗼𝗳 𝗮𝗰𝘁𝗶𝘃𝗲 𝗱𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗶𝘀 𝗲𝘅𝗽𝗮𝗻𝗱𝗶𝗻𝗴: In 2023, 66% of new board appointments at the Top 100 were directors – men and women – taking on their first role at an SGX issuer. In total, the Top 100 appointed 310 “first-time directors” (FTDs) between 2018 and 2023 (51% of new appointments). 📈 𝗠𝗮𝗷𝗼𝗿𝗶𝘁𝘆 𝗼𝗳 𝗙𝗧𝗗𝘀 𝗵𝗮𝘃𝗲 𝗼𝘃𝗲𝗿𝘀𝗲𝗲𝗻 𝗿𝗲𝘃𝗲𝗻𝘂𝗲-𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗻𝗴 𝘂𝗻𝗶𝘁𝘀: Among the Top 100’s Class of 2023 FTDs, 58% have CEO experience. Top functional skill sets of the Class of 2023: Strategy & Management (39%), Finance & Investments (37%), Legal (7%). And what’s Singapore’s overall stat for women on boards, you ask? Have a look at our handy little snapshot below. #boarddiversity #diverseleadership #womenonboards #boardofdirectors