Taskforce: No gender quota for now

A taskforce set up in 2012 to boost diversity in company boardrooms has opted not to make gender quotas mandatory.

Instead, the Diversity Task Force is recommending initiatives to encourage companies to appoint more women to their boards.

Among its 10 recommendations is a proposal to give more prominence to gender diversity in the Code of Corporate Governance and the rules of the Singapore Exchange (SGX).

It also calls on firms to develop a gender diversity policy and to introduce programmes to train and develop female candidates.

A Diversity Action Committee will be set up to help implement the recommendations. SGX chief executive Magnus Bocker will chair the committee.

This article was published on April 26 in The New Paper.

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