Hr Institute To Recommend Ways To End Boardroom Closed Shops 1

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26th October 2009, 07:53pm - Views: 601





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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   

(03) 9918 9232         0402 897 884             www.ahri.com.au







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