ARB is Australia’s largest manufacturer and distributor of four-wheel drive accessories and it remains one of only six ASX200 companies without a single female on its board.
When pressed about shareholder concerns, ARB told ACSI that they do not discriminate on the basis of gender, age, ethnicity or cultural background and instead focus on merit.
ACSI CEO Louise Davidson told Fairfax Media that it’s hard to grasp that no meritorious woman has been found in the 28 years the company has been listed.
Given the conclusive empirical evidence that indicates the economic benefits of diversity it is curious that more companies haven’t embraced it as a commercial priority.
In Australia companies with the largest market capitalisations have the highest proportion of female board members which isn’t a coincidence.