Business Daily from THE HINDU group of publications
Sunday, Jul 23, 2006
Business Daily from THE HINDU group of publications Sunday, Jul 23, 2006 |
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Gender Corporate - Human Resources India Inc boards get younger, sans gender balance Anil Sasi
The profile Information on the board composition of 1,069 companies shows that 6,560 individuals occupy a total of 11,391 directorship positions in listed companies. There are only 311 women on the boards of companies, occupying a total of 413 directorships. The company with maximum number of directors is ICICI Bank at 18, while Artson Engineering, with two directors, has the lowest.
New Delhi , July 22 Though women have made inroads across sectors in 21st century India, the corporate sector continues to be overtly male dominated. Available information on the board composition of 1,069 companies shows that 6,560 individuals occupy a total of 11,391 directorship positions in listed companies. But there are only 311 women on the boards of companies, occupying a total of 413 directorships, according to a data on directors of listed companies compiled by Prime Database as part of a BSE corporate governance initiative. In comparison, the gender representation at the helm of US companies is far more evident, with 88 per cent of Standard & Poor's 500 boards having at least one woman board member and 49 per cent with two or more women on their boards, according to the Spencer Stuart Silicon Valley Board Index. Another interesting information on the Indian director profile is that there are, on an average, over seven directors on a board. The traditional trend of offering directorship to the wise old men seems to be on the decline. The average age of an Indian director included in the database is a healthy 55 years. In comparison, the average age on corporate boards in the Standard & Poor's 500 is 60.5 years and no director is younger than 50.
The old and the young
The youngest director on a board, at 18 years, is Mr Devendra Siddhomal Jain of Gujarat Fluorochemicals Ltd, while the oldest is Kolkata-based solicitor Mr Nathmal Himatsingka, who is on the board of United Credit Ltd at the ripe age of 95. The company with maximum number of directors is ICICI Bank at 18, while Artson Engineering, with two directors, has the lowest. The maximum number of directorships in listed companies is held by Mumbai-based solicitor Mr Rajendra Ambalal Shah, who is on 29 company boards. These include Wockhardt, Pfizer Ltd, Shaw Wallace, Asian Paints, ACC and Bombay Dyeing. There are a total of 4,752 companies listed at the BSE. The 1,069 companies are the ones that filed information on their board composition with Prime Database as part of the Clause 49 compliance initiative.
Related Stories: More Stories on : Gender | Human Resources
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