Women's Share of Directorships at Top 100 Listed Firms Crosses 25%

Progress in having women directors also seen in statutory boards and charities in Singapore

- Sue-Ann Tan

More women are becoming directors and taking on leadership roles on the boards of companies and organisations in Singapore, said a report released on May 30.

The report by the Council for Board Diversity found that women's share of directorships at the top 100 companies listed on the Singapore Exchange mainboard rose to 25.1 per cent in 2024, capping a multi-year uptrend.

This not only exceeds the target of 25 per cent set by the council for such companies, but was also achieved a year ahead of schedule.

It is also a marked increase from the 7.5 per cent of women directors at the end of 2013. In 2023, the figure was 23.7 per cent. The next target is 30 per cent by end-2030.

All listed companies collectively reached 18.1 per cent in women's board participation in 2024, the council's report showed.

"Encouraged by regulatory efforts introduced to prompt regular board renewals, the 615 companies appointed the largest cohort of first-time directors in a decade—310 men and women—increasing board gender diversity and enriching the board talent pool," the council said in a statement.

New regulations were announced in 2023 stating that directors who have occupied board seats in the same company for more than nine years will no longer be considered independent. Companies had to adjust their boards by April 2024.

Of the new board appointments made by the top 100 companies in 2024, women took on a 34 per cent share of directorships, up from a 5 per cent share in 2013, the report showed.