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Sebi chairman bats for more women participation on corporate boards

Sebi chairman bats for more women participation on corporate boards

Sebi chairman bats for more women participation on corporate boards
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By CNBCTV18.com Nov 14, 2022 9:44:07 AM IST (Updated)

"... data shows that representation of women in key board committees such as the audit committee and nomination and remuneration committee remains quite low at around 7%. Clearly, we still have a long way to go," Tyagi said.

While there has been an improvement in gender diversity at the corporate board level in India, Securities & Exchange Board of India (Sebi) chairman Ajay Tyagi feels that the current number of women representation on corporate boards is still very low as compared to the global average.

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The number of women on corporate boards has been steadily increasing year-on-year and stands at around 17 percent for top 500 companies today. It was around 5-6 percent in 2014.
At an overall level, the figure stands at around 19 percent. In the OECD and developed countries, the figure is more than 25 percent, Sebi chief noted.
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"... data shows that representation of women in key board committees such as the audit committee and nomination and remuneration committee remains quite low at around 7 percent. Clearly, we still have a long way to go," Tyagi said.
Speaking at 14th CII Corporate Governance Summit on Tuesday, Tyagi said, "It is not merely a social issue, there are several economic and governance benefits as well of bringing greater gender diversity on the Boards."
There is evidence-based research across the world that shows that companies having better gender diversity on their Board have generally outperformed financially those which did not have such diversity, he added.
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