The Australian Institute of Company Directors (AICD) has released the latest ASX data
showing that momentum towards gender parity on Australia's top company boards
has slowed over the past year.
While the overall number of female directors on the ASX 300, 200 and 100 is holding up, progress appears to be levelling off with the 2025 appointment rate slipping below 2024.
A total of 40.2% of ASX 200 board appointments in 2024 were female, compared with 37.9% so far in 2025.
As of 30 September 2025, the number of women directors on the ASX 50 has dropped below the 40 percent milestone and is now sitting at 39.7%.
The ASX 20 remains ahead of the broader market, exceeding 40 percent at 43.3%, but this is also lower year on year.
The number of women in leadership positions remains particularly limited with only 46 female Chairs across the ASX 300, and no female Chairs in the ASX 20.
ASX group |
Female Directorships (Sept 2024) |
Female Directorships (Sept 2025) |
ASX 300 |
37.0% |
37.3% |
ASX 200 |
37.7% |
38.1% |
ASX 100 |
39.2% |
39.2% |
ASX 50 |
41.4% |
39.7% |
ASX 20 |
45.0% |
43.3% |
AICD Managing Director and CEO Mark Rigotti said while the rise in women's representation on ASX boards over the past decade is a significant achievement, the recent slowdown reminds us that progress can't be taken for granted.
"Building a strong and diverse pipeline of board-ready women is essential to sustaining momentum and ensuring Australia's governance landscape continues to evolve."
Chair of the 30% Club Marina Go said while it's positive that the ASX 20 continues to move ahead in expanding the number of female director appointments, the plateauing of board gender diversity across the ASX 100, 200 and 300 groups is concerning.
"More disappointing is the slippage of the ASX 50 below 40 per cent for the first time since July 2023. "Boards must maintain the momentum of ensuring that talent identification practices are proactive in pipeline expansion and inclusive to enable female talent to succeed. Only then will boards have access to the best available talent, which is in the best interests of shareholders."
Following a decade of consistent growth, the prospect that the appointment rate of women directors may be flattening highlights the importance of continuing efforts by the AICD and 30% Club to achieve gender parity.
