ANZ and BHP among ASX 200 shares aiming for 40% female leadership

ASX giants ANZ and BHP put gender diversity in leadership on the table.

| More on:
Group of executives meeting around a board table

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Australia and New Zealand Banking Group Ltd (ASX: ANZ) and BHP Group Ltd (ASX: BHP) are among the first 10 signatories of the 40:40 Vision gender diversity initiative. The 40:40 Vision initiative aims to see women make up at least 40% of leadership roles in S&P/ASX 200 Index (ASX: XJO) companies. Signatories must commit to reach the goal by 2030.

They've also agreed to publicly set gender targets for 2023 and 2027, disclose plans made to meet said targets, and report their progress each year.

 Also included in the 40:40 Vision's first 10 ASX 200 signatories are:

Let's take a closer look at the 40:40 Vision initiative.

ASX 200 companies aiming for 40% female leadership

According to industry super fund HESTA, which oversees the 40:40 Vision initiative, last year, the WGEA and the Bankwest Curtin Economics Centre found increasing the amount of female senior managers by 10% led to a 6.6% increase in an ASX-listed company's market value.

BHP is already kicking goals gender diversity goals, with 50% of its executive leaders being women.

Currently, only 4 of ANZ's 11-strong executive committee are women.

HESTA's CEO and 40:40 Vision steering committee chair, Debby Blakey, today welcomed the ASX 200 signatories, saying:

Changing our national culture cannot be achieved without courageous leadership. This must involve more women in leadership as well as men who value the perspective they bring…

By creating more equitable and inclusive workplaces, these companies will reap the rewards, because there's compelling evidence that better gender balance in leadership is not just fairer, but also good for business – resulting in better performance, better profits and better corporate governance.

ANZ's CEO Shayne Elliott commented on the bank's involvement in the 40:40 Vision initiative, saying:

[By including more women in ANZ's senior executive team], not only will we continue to attract great talent to our organisation, but our team will better reflect the community we live in, including more women in leadership roles, and committing to the 40:40 Vision helps reinforce that focus

BHP's CEO Mike Henry also commented:

Inclusive, diverse teams are safer, more productive, and make better decisions. They improve performance… BHP has a balanced senior executive team and we support the 40:40 Vision and the goal of achieving gender balanced corporate leadership in Australia.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »

Father in the ocean with his daughters, symbolising passive income.
Dividend Investing

I'd spend $8k on these ASX 200 shares today to target a $6,102 annual passive income

I believe these ASX 200 shares will continue rewarding passive income investors for years to come.

Read more »

Three businesspeople leap high with the CBD in the background.
Share Market News

Boom! ASX 200 blasts to new record highs

ASX 200 investors just sent the benchmark index into uncharted territory.

Read more »