Australia: Corporate Governance Principles and Recommendations - proposed amendments

The Australian Securities Exchange Corporate Governance Council has published an exposure draft containing proposed amendments to the Corporate Governance Principles and Recommendations (2007): see here (pdf).

Many of the proposed changes concern diversity at board level and throughout the company. For example, proposed recommendation 3.2 provides that "Companies should establish a policy concerning diversity and disclose the policy or a summary of that policy" and that this policy "should include measurable objectives for achieving gender diversity". In this regard, diversity includes gender, age, ethnicity and cultural background.