The head of one of the nation’s largest super funds says the belief in “inclusive and equitable leadership” is firmly entrenched in Australia’s business world.
The head of one of the largest super funds is optimistic the nation’s businesses and public servants won’t follow the lead of US President Donald Trump in rolling back diversity measures, saying the belief in “inclusive and equitable leadership” was firmly entrenched in Australia.
HESTA chief executive Debby Blakey is optimistic Australia will not roll back its gender diversity targets.Hesta CEO Debby Blakey on Wednesday said the $91 billion super fund, whose members are overwhelmingly women, voted against the re-election of 47 directors and chairs, including at the boards of Harvey Norman, Cettire and Guzman Y Gomez, over their gender diversity achievements.
US companies such as Target, Amazon, Facebook parent Meta, McDonald’s and Walmart have already pulled back on DEI policies in recent months.Blakey said rolling back gender targets would be disappointing as it would undermine years of progress and affect financial returns for shareholders, but she remained confident Australia would not adopt the US position.
An Australian Council of Superannuation Investors report last year found 125 women were appointed to the boards of ASX300 companies, making up 46 per cent of appointments – and increasing female representation to 37.5 per cent, up two percentage points on the previous year.
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