IFC Discusses Women on Boards with Standard Chartered Group Executive

At IFC, we have seen that the benefits of private sector development are stronger, deeper, and more widespread when women are full participants in the process. This extends into all parts of a company's organizational chart, to include positions at the top where women serve as role models and act as a catalyst for cultural change that help empower women at all levels.

Research indicates that women on boards contribute to improving corporate performance and shareholder value. Yet, despite the heightened awareness and national initiatives for more global diversity, women remain largely absent from the corporate boardroom.

Jaspal Bindra, Group Executive Director and Asia CEO of Standard Chartered PLC shared his candid views and experience on the real or assumed obstacles to increasing the number of women on boards. Mr. Bindra said that quotas would quicken the pace to achieve diversity but may degenerate into tokenism. He recommends increasing the transparency and accountability on how individuals are appointed to boards.

Mr. Bindra is one of the corporate directors interviewed in an IFC publication that covers the business perks of women on boards. This publication is part of IFC's broader effort to raise awareness, build capacity, and expand the discussion on board diversity to ensure that more companies in developing countries have the opportunity to attract senior women to serve on their boards.

For information on corporate governance and women on boards visit:
Global Corporate Governance Forum www.gcgf.org
IFC's Women in Business Program www.ifc.org/gender
20-first http://www.20-first.com/1129-0-view-from-the-top-standard-chartered.html
Vital Voices http://www.vitalvoices.org/node/155

Category:

Nonprofits & Activism

Tags:

• Women on boards
• Corporate governance
• Quotas
• Diversity
• IFC