A comprehensive analysis of the composition of Australian boards measuring diversity and inclusion. The report examines diversity across gender, cultural background, skills and experience, age, tenure and independence, First Nations, LGBTQ+ and disability.

Advancing diversity, equity and inclusion continues to be a focus for segments of public and institutional investors who seek continued progress. However, some leaders are becoming more apprehensive about discussing diversity, equity and inclusion and are choosing to opt out of what is viewed as compliance-driven approaches.

Key findings

• Steady progress in gender diversity has been made, with nearly three-quarters (73%) of ASX300 boards now having more than 30% women – a 4% increase from 2024.
• The average age of directors remains stable at 61.
• Cultural diversity has declined, with Anglo-Celtic directors now making up 91.9% of boards, compared to 91.2% last year.
• First Nations representation remains low, with only five directors holding seven board seats across the ASX300.
• LGBTQ+ representation remains at four openly identified directors, with researchers suggesting actual numbers may be higher due to privacy concerns.
• Disability representation remains absent, with no board members openly identifying as living with disability.