More diversity changes proposed for NZX
(3 April 2012 – New Zealand) As proposed New Zealand Exchange (NZX) rule changes on diversity are planned, a lobby representing younger company directors also want age included.
The share market operator has released a discussion document on a series of planned changes to its regulations, including forcing listed companies to disclose the number of women on their boards.
Springboard NZ, which represents directors under the age of 45, said the rules should also cover the issue of board members' age.
It welcomed compulsory diversity reporting on the composition of boards but said that ''an emphasis on age, as well as gender diversity, will lead to our larger companies being more successful''.
The other changes the NZX is proposing include lowering compliance costs.
The announcement comes as the NZX prepares to move to a pure free float ranking methodology in June.
Springboard NZ, which represents directors under the age of 45, said the rules should also cover the issue of board members' age.
It welcomed compulsory diversity reporting on the composition of boards but said that ''an emphasis on age, as well as gender diversity, will lead to our larger companies being more successful''.
The other changes the NZX is proposing include lowering compliance costs.
The announcement comes as the NZX prepares to move to a pure free float ranking methodology in June.
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