As noted in our 8 July edition, on 30 June the ASX Corporate Governance Council released final changes to the Corporate Governance Principles and Recommendations (Recommendations) regarding, among other things, board diversity. The changes will take effect from the first financial year applicable to listed entities on or after 1 January 2011, however earlier transition is encouraged.
The Recommendations have been amended to require ASX listed entities to adopt and disclose a diversity policy which requires the board to establish measurable objectives for achieving gender diversity.
See full Press Release.
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