Law, accounting, banking? How to really become an influential female board director - Women's Agenda

Law, accounting, banking? How to really become an influential female board director

The most influential female board directors on the ASX are an eclectic bunch. While they share different career paths, they can collectively offer a few hints regarding how to reach the boardrooms of our most powerful companies.

According to research by Optimice, ranking all non-executive board directors on the ASX according to their direct and indirect board connections, female board directors hold 16 of the top 25 ‘influencer’ positions. 

This is despite the fact women continue to hold only a small portion of the total number of non-executive ASX board positions – just 10.1% of the 7000 or so chairman, deputy chairman and non-executive director roles examined.

So what does it take to get into this top female talent pool for ASX board positions?

We took a look at the 25 most ‘influential’ female board directors identified by Optimice to try and determine some trends regarding their career progressions. 

The backgrounds of these women cover everything from law to investment banking, science, technology and accounting. While the most popular undergraduate degrees held by those on this list are in law and commerce, other degrees held include town planning, natural science, engineering and computer science.

And while a number have gone on to complete MBAs, including one from Harvard University, another has a PHD in mathematics.  

The most telling common trait amongst these women is age. Almost all of the top 25 are in their fifties and sixties, proving decades of industry experience is still a must. Most also appear to have held major leadership positions, usually in managing director-type roles.

The law firm Mallesons appears to be a strong breeding ground for female directors, with at least three of the top 25 spending some time with one of Australia’s largest law firms (now called King & Wood Mallesons). Meanwhile, common boards for well-connected women include Fairfax Media, Medibank Private, Qantas Airways, Cochlear, IAG, and DUET Group.

It’s also interesting to note that these women are not particularly ‘high profile’. Some don’t have LinkedIn profiles, nor deliver much by way of media mentions when their names are searched. Only a tiny portion regularly appear on the speaker lists of major events and conferences.

At the top of the ‘influencer’ list is Linda Nicholls, who is currently on the boards of Japara Healthcare, Medibank Private, Fairfax, Pacific Brands and Stigma Pharmaceuticals.  She has an MBA from Harvard Business School as well as a Bachelor of Economics from Cornell University, and has previously served as the Chairman of Healthscope and Australia Post, overseeing a number of significant corporate transformations.

See the top 25 most ‘influential’ female directors here, as well as what we’ve gleaned from their education and career backgrounds.

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