JSE Top40 shows less gender diversity

Gender diversity at board and executive levels in the JSE Top 40 continues to lag behind, with only 35 per cent of board seats and 25 per cent of executive roles held by women. Tracey Davies, Executive Director of Shareholder Activism Organisation Just Share, discussed the findings in a recent interview. Davies highlighted the persistent challenge of the 'glass ceiling' that limits women's representation in corporate leadership roles. She noted that these numbers reflect a significant gap between the number of women in the labor market and their representation in senior positions, despite women accounting for 46 per cent of South Africa's economically active population. Davies emphasized that this issue is not unique to the JSE Top 40 and is prevalent across the private sector. She attributed the lack of progress to historical socialization, stereotypes, and discrimination against women. Davies argued that proactive interventions and structural changes are necessary to address these barriers to gender equality. The interview also touched on the role of legislation in promoting gender diversity, with Davies advocating for stronger regulatory measures to encourage companies to set more ambitious targets for gender parity. While quotas are controversial, Davies suggested that regulatory reforms could be introduced to drive progress on gender diversity in corporate leadership. The discussion delved into sector-specific challenges, with the financial sector standing out for its lack of female CEOs. While some companies have shown progress in gender diversity, others face criticism for poor representation at executive levels. The need for improved transparency and disclosure in reporting gender diversity data was also highlighted. Davies concluded by calling for enhanced corporate governance practices and greater accountability from institutional investors to push for meaningful change in gender representation at the top of corporate hierarchies.