SINGAPORE: A task force formed last year to examine the state of gender diversity on boards and in senior management, as well as its impact on corporate performance and governance, hopes to submit its recommendations to the government and business in the first half of next year.
The Diversity Task Force is currently reviewing data from the annual reports of SGX-listed companies and statutory boards, as well as literature on the subject.
A statement from the Social and Family Development Ministry said the task force has made much progress in its study.
It has an advisory panel, chaired by Mr JY Pillay, chairman of the Council of Presidential Advisers.
The panel believes a diverse board with a good balance of gender, skill sets and experience makes good business sense.
It adds that boards in Singapore may have a good mix of skill sets and experience, but gender diversity is clearly lacking.
It feels decisions made in boardrooms should reflect the realities of the marketplace, if they hope to keep their competitive edge.
As part of the study, in July 2013, the Singapore National Employers Federation, along with SGX-listed companies and statutory boards, also launched a survey on gender diversity on boards and in senior management. - CNA/al
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