2023 Green shoots of change in the boardroom
Inspired by our February 2022 report, Bold moves in the boardroom - which argues that future fit boards need to broaden their composition to include directors with backgrounds in HR, customer/marketing and digital - the Green shoots of change series profiles the recent appointment of non-traditional non-executive directors.
Review (2024)
Deloitte, along with the 30%+ Club of Australia, wondered whether the changes advocated in the Bold moves in the boardroom report are taking root. We found some green shoots of change and built case studies around these examples by interviewing the new appointee along with their Chairs. These interviewees, from listed, private and non-for-profit organisations, share their motivations and experiences, and challenge other boards to make a similar move as to ensure their future fitness.
The review draws together the threads of this three-year journey from Bold Moves in the Boardroom to this year’s Green Shoots of Change case study series. In sum, Bold Moves in the Boardroom got it right: there is an emerging conversation about revisiting board composition to ensure that boards are future fit. What the Green Shoots of Change series now identifies is four new insights:
- Innovation is happening at the fringes but not yet in the centre of the board community
- The recent appointment of the non-traditional NEDs was driven by an immediate strategic imperative
- The recent appointment of the non-traditional NEDs delivered an accelerative potential for their organisations
- A focus on skill diversity in the boardroom via the appointment of non-traditional NEDs also delivered a gender diversity dividend.
Case Studies (2023)
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In today's dynamic business landscape, diverse expertise, experience and skills in the boardroom, has moved beyond an option, it's an imperative for sustained success. These case studies exemplify how integrating diverse skills, such as HR, customer/marketing and digital, into their board serves as a compelling example of how this approach can drive excellence and resilience.” – Tom Imbesi, Chair Deloitte Australia
“We were so inspired to unearth these green shoots of change. They signal that forward thinking Australian boards are making bold moves around the board table to deliberately expand their diversity of thinking so as to be future fit.” - Dr Juliet Bourke, Chair 30% Club Australia Education Working Group.
About the 30% Club Australia
The 30% Club Australia launched in May 2015 with the primary objective of campaigning for 30 per cent women on ASX200 boards by the end 2018. Nicola Wakefield Evans is the Chair of the 30% Club Australia and is supported by a Steering Committee, ASX300 Chairs, a number of Working Groups and valued supporters in promoting the benefits of diversity at all levels of business. In March 2019, the 30% Club Australia announced a new objective for 30 per cent women on ASX300 boards by the end of 2021. This was achieved in February 2021. The 30% Club Australia continues to focus on the boards of ASX300 companies that have not reached the 30 per cent target and on increasing diversity in senior leadership teams of the ASX300. The Bold moves in the boardroom report and series was led by the 30% Club Education Working Group, which is chaired by Dr Juliet Bourke.
