Media Release
HR institute to recommend ways
to end boardroom closed shops
October 26
Australia’s peak human resources body will speak to its proposals about boardroom diversity
and renewal at a Productivity Commission hearing in Melbourne tomorrow (Tuesday October 27
at 2pm).
The Commission is hearing submissions relating to the draft report on executive and director
remuneration that was released on September 28.
The national president of the Australian Human Resources Institute, Peter Wilson AM, will
speak to the institute’s submission on the draft report. Among other things, he will recommend
additional ways to end boardroom closed shops, and their relationship to the ‘two strikes and
you vote’ proposal and ending the no-vacancy rule.
Mr Wilson will enlarge on the AHRI proposal to change the Corporations Law so that board
positions of non-executive directors who have served two terms be declared “contestable board
seats” and be open to nomination from other candidates. The institute believes such a reform
would enable genuine diversity and renewal on Australian listed company boards.
“At present many major boards of Australian companies are signing off on company-wide
sustainability, equal opportunity and diversity policies that apply to everyone except themselves.
There is a dearth on top boards of female representation and virtually no people from
indigenous backgrounds or with a visible disability. It’s time for that to change and for entry
onto Australia’s top boards to be open to real competition and scrutiny rather than selection by
an informal tap on the shoulder,” said Peter Wilson.
END
About AHRI
The Australian Human Resources Institute (AHRI) is the national association representing human resource and people
management professionals. AHRI leads the direction and fosters the growth of the HR profession through actively setting
standards and building the capability of the profession
.
For further information contact:
Paul Begley, national manager, government & media relations, Australian Human Resources Institute
NEWS 
