Women on Boards Hong Kong 2020: Q3
Hong Kong 2020
LEAD SPONSOR
GOLD SPONSOR
In recent years, we have seen a small minority of enlightened Hong Kong listed companies take concrete actions to rectify their gender-homogeneous board makeup. The majority have resisted or paid mere lip-service to the issue by appointing a token woman, before returning to business as usual and a candidate pool taken from ‘the old boys club’.
Key Data (Hong Kong)
Percentage of Women on Hang Seng Index (HSI) Boards
Data valid as of 2 July 2020
Share
13.7 %
Women on HSI boards
Analysis
2 July 2020
Women make up 13.7% of the HSI boards in the second quarter of 2020. Despite a slight increase by 0.3%...
Analysis
Percentage of Women on Hang Seng Index (HSI) Boards
2 July 2020
Women make up 13.7% of the HSI boards in the second quarter of 2020. Despite a slight increase by 0.3% since the last update, female representation on HSI Boards has remained at a similar level over the past two years.
Companies with at least one female director
- Jan 2020
- Jan 2019
- Jan 2018
- Jan 2017
Companies with multiple female directors
- Jan 2020
- Jan 2019
- Jan 2018
- Jan 2017
Companies with female executive directors
- Jan 2020
- Jan 2019
- Jan 2018
- Jan 2017
Companies with female CEOs
- Jan 2020
- Jan 2019
- Jan 2018
- Jan 2017
Companies with all-male boards
- Jan 2020
- Jan 2019
- Jan 2018
- Jan 2017
Analysis
2 July 2020
There has been no change in the overall female representation of directors, executive directors and CEOs...
Analysis
Summary of Gender Diversity on HSI Boards
2 July 2020
There has been no change in the overall female representation of directors, executive directors and CEOs on the HSI Boards. On the other hand, the number of companies with all-male boards has increased from eleven to twelve.
Key Data (Hong Kong)
Women on Boards League Table: HSI
Data valid as of 2 July 2020 | Currently 50 constituents on the HSI
Share
Most eventful
New HSI Constituent
Rank
5
(
12)
New World Development Company Ltd
新世界發展有限公司
25%
5
(
12)
New World Development Company Ltd
新世界發展有限公司
- % Women
- 25%
- Board Size
- 16
- No. of Women
- 4
- Stock Code
- 17
- Chairperson
- Cheng, Henry Kar Shun 鄭家純
- Female Directors
- Cheng, Sonia Chi Man 鄭志雯;
Ki, Leonie Man Fung 紀文鳳;
Huang, Echo Shaomei 黃少媚;
Chiu, Jenny Wai Han 趙慧嫻
14
(
1)
Swire Pacific Ltd
太古股份有限公司
18.18%
14
(
1)
Swire Pacific Ltd
太古股份有限公司
- % Women
- 18.18%
- Board Size
- 11
- No. of Women
- 2
- Stock Code
- 19
- Chairperson
- Swire, Merlin Bingham 施銘倫
- Female Directors
- Lee, Rose Wai Mun 李慧敏;
Low, Michelle Mei Shuen 劉美璇
16
(
17)
Ping An Insurance (Group) Company of China Ltd
中國平安保險(集團)股份有限公司
15.38%
16
(
17)
Ping An Insurance (Group) Company of China Ltd
中國平安保險(集團)股份有限公司
- % Women
- 15.38%
- Board Size
- 13
- No. of Women
- 2
- Stock Code
- 2318
- Chairperson
- Ma, Mingzhe 馬明哲
- Female Directors
- Cai, Fangfang 蔡方方;
Tan, Jessica Sin Yin 陳心穎
21
(--)
China Unicom (Hong Kong) Ltd
中國聯合網絡通信(香港)股份有限公司
12.5%
21
(--)
China Unicom (Hong Kong) Ltd
中國聯合網絡通信(香港)股份有限公司
- % Women
- 12.5%
- Board Size
- 8
- No. of Women
- 1
- Stock Code
- 762
- Chairperson
- Wang, Xiaochu 王曉初
- Female Directors
- Law Fan, Fanny Chiu Fun 羅范椒芬
30
(
2)
BOC Hong Kong (Holdings) Ltd (HK)
中銀香港(控股)有限公司
10%
30
(
2)
BOC Hong Kong (Holdings) Ltd (HK)
中銀香港(控股)有限公司
- % Women
- 10%
- Board Size
- 10
- No. of Women
- 1
- Stock Code
- 2388
- Chairperson
- Liu, Liange 劉連舸
- Female Directors
- Cheng, Eva 鄭汝樺
42
(
39)
China Shenhua Energy Company Ltd
中國神華能源股份有限公司
0%
42
(
39)
China Shenhua Energy Company Ltd
中國神華能源股份有限公司
- % Women
- 0%
- Board Size
- 9
- No. of Women
- 0
- Stock Code
- 1088
- Chairperson
- Wang, Xiangxi 王祥喜
- Female Directors
46
(
13)
Sino Land Company Ltd
信和置業有限公司
0%
46
(
13)
Sino Land Company Ltd
信和置業有限公司
- % Women
- 0%
- Board Size
- 11
- No. of Women
- 0
- Stock Code
- 83
- Chairperson
- Ng, Robert Chee Siong 黃志祥
- Female Directors
Top 10
Rank
Company
2020 New
Percent
1
(
1)
Hang Seng Bank Ltd
恒生銀行有限公司
41.67%
1
(
1)
Hang Seng Bank Ltd
恒生銀行有限公司
- % Women
- 41.67%
- Board Size
- 12
- No. of Women
- 5
- Stock Code
- 11
- Chairperson
- Ch'ien, Raymond Kuo Fung 錢果豐
- Female Directors
- Cheang, Louisa Wai Wan 鄭慧敏;
Chiang, Lai Yuen 蔣麗苑;
Gan, Kathleen Chieh Huey 顏杰慧;
Kwan, Margaret Wing Han 關穎嫺;
Lee, Irene Yun Lien 利蘊蓮
2
(
1)
HSBC Holdings plc
滙豐控股有限公司
35.71%
2
(
1)
HSBC Holdings plc
滙豐控股有限公司
- % Women
- 35.71%
- Board Size
- 14
- No. of Women
- 5
- Stock Code
- 5
- Chairperson
- Tucker, Mark Edward 杜嘉祺
- Female Directors
- Cha Shih, Laura May Lung 史美倫;
Lee, Irene Yun Lien 利蘊蓮;
Miller, Heidi 苗凱婷;
Van Der Meer Mohr, Pauline Francoise Marie 梅爾莫;
Murray, Eileen 梅愛苓
3
(
1)
Link Real Estate Investment Trust
領展房地產投資信託基金
33.33%
3
(
1)
Link Real Estate Investment Trust
領展房地產投資信託基金
- % Women
- 33.33%
- Board Size
- 12
- No. of Women
- 4
- Stock Code
- 823
- Chairperson
- Allen, Nicholas
- Female Directors
- Tan, May Siew Boi 陳秀梅;
Tan, Poh Lee 陳寶莉;
Tse; Nancy Sau Ling 謝秀玲;
Young; Elaine Carole
3
(
1)
Sino Biopharmaceutical Ltd
中國生物製藥有限公司
33.33%
3
(
1)
Sino Biopharmaceutical Ltd
中國生物製藥有限公司
- % Women
- 33.33%
- Board Size
- 12
- No. of Women
- 4
- Stock Code
- 1177
- Chairperson
- Tse, Theresa Y Y 謝其潤
- Female Directors
- Cheng, Cheung Ling 鄭翔玲;
Li, Mingqin 李名沁;
Lu, Hong 魯紅;
Tse, Theresa Y Y 謝其潤
5
(
2)
MTR Corporation Ltd
香港鐵路有限公司
25%
5
(
2)
MTR Corporation Ltd
香港鐵路有限公司
- % Women
- 25%
- Board Size
- 20
- No. of Women
- 5
- Stock Code
- 66
- Chairperson
- Auyeung, Rex Pak Kuen 歐陽伯權
- Female Directors
- Chan Yuen, Dorothy Tak Fai 陳阮德徽;
Chan, Mable 陳美寶;
Chan, Pamela Wong Shui 陳黃穗;
Lee, Rose Wai Mun 李慧敏;
Li Li, Lucia Ka Lai 李李嘉麗
5
(
5)
CLP Holdings Ltd
中電控股有限公司
25%
5
(
5)
CLP Holdings Ltd
中電控股有限公司
- % Women
- 25%
- Board Size
- 12
- No. of Women
- 3
- Stock Code
- 2
- Chairperson
- Kadoorie, Michael David 米高嘉道理
- Female Directors
- Law Fan, Fanny Chiu Fun 羅范椒芬;
Mody, Zia 穆秀霞;
Tan, May Siew Boi 陳秀梅
5
(
9)
Hong Kong Exchanges and Clearing Ltd
香港交易及結算所有限公司
25%
5
(
9)
Hong Kong Exchanges and Clearing Ltd
香港交易及結算所有限公司
- % Women
- 25%
- Board Size
- 12
- No. of Women
- 3
- Stock Code
- 388
- Chairperson
- Cha Shih, Laura May Lung 史美倫
- Female Directors
- Cha Shih, Laura May Lung 史美倫;
Fung, Anita Yuen Mei 馮婉眉;
Chow Woo, Susan Mo Fong 周胡慕芳
5
(
12)
New World Development Company Ltd
新世界發展有限公司
25%
5
(
12)
New World Development Company Ltd
新世界發展有限公司
- % Women
- 25%
- Board Size
- 16
- No. of Women
- 4
- Stock Code
- 17
- Chairperson
- Cheng, Henry Kar Shun 鄭家純
- Female Directors
- Cheng, Sonia Chi Man 鄭志雯;
Ki, Leonie Man Fung 紀文鳳;
Huang, Echo Shaomei 黃少媚;
Chiu, Jenny Wai Han 趙慧嫻
9
(
1)
CK Infrastructure Holdings LTD (BM)
長江基建集團有限公司
23.53%
9
(
1)
CK Infrastructure Holdings LTD (BM)
長江基建集團有限公司
- % Women
- 23.53%
- Board Size
- 17
- No. of Women
- 4
- Stock Code
- 1038
- Chairperson
- Li, Victor Tzar Kuoi 李澤鉅
- Female Directors
- Chen, Tsien Hua 陳建華;
Kwok Lee, Eva 郭李綺華;
Lee Wong, Angelina Pui Ling 李王佩玲;
Sng, Sow Mei 孫潘秀美
10
(
1)
Bank of China Ltd
中國銀行股份有限公司
23.08%
10
(
1)
Bank of China Ltd
中國銀行股份有限公司
- % Women
- 23.08%
- Board Size
- 13
- No. of Women
- 3
- Stock Code
- 3988
- Chairperson
- Liu, Liange 劉連舸
- Female Directors
- Chao, Angela A 趙安吉;
Wang, Xiaoya 汪小亞;
Xiao, Lihong 肖立紅
Analysis
2 July 2020
The league table sees significant changes in this quarter. With the departure of China Shenhua Energy...
Analysis
Women on Boards League Table: HSI
2 July 2020
The league table sees significant changes in this quarter. With the departure of China Shenhua Energy from the chart, the top three companies as of this quarter are Hang Seng Bank, HSBC and Link Real Estate Investment Trust. Among the newcomers to the league table are Hong Kong Exchanges and Clearing and New World Development, which have advanced nine and twelve spots respectively to jointly claim fifth place.
12
Companies with all-male boards
5
Companies which have never had female directors
Companies which do not have female directors
Companies which have never had female directors
Company
Industry
China Mobile Ltd (HK) 中國移動有限公司
Commerce & Industry
China Petroleum & Chemical Corporation 中國石油化工股份有限公司
Commerce & Industry
China Resources Land Ltd 華潤置地有限公司
Properties
China Shenhua Energy Company Ltd 中國神華能源股份有限公司
Utilities
CSPC Pharmaceutical Group Ltd 石藥集團有限公司
Commerce & Industry
Mengniu Dairy Company Ltd 中國蒙牛乳業有限公司
Commerce & Industry
Power Assets Holdings Ltd 電能實業有限公司
Utilities
Sunny Optical Technology (Group) Company Ltd 舜宇光學科技(集團)有限公司
Commerce & Industry
Techtronic Industries Company Ltd 創科實業
Commerce & Industry
The Hong Kong and China Gas Company Ltd 香港中華煤氣有限公司
Utilities
WH Group Ltd (KY) 萬洲國際有限公司
Commerce & Industry
Sino Land Company Ltd 信和置業有限公司
Properties
Analysis
2 July 2020
The number of companies with all-male boards has climbed from eleven to twelve this quarter. China...
Analysis
All-Male Boards
2 July 2020
The number of companies with all-male boards has climbed from eleven to twelve this quarter. China Shenhua Energy and Sino Land Development joined the ranks of the all-male boards after all female directors on their boards completed their tenure without new female replacements. On a positive note, CNOOC has appointed a female director for the first time in this quarter, bringing the number of companies which have never had a female director down from six to five.
First time director on HSI board
First time appointed corporate director in Hong Kong
-
Tan, Jessica Sin Yin 陳心穎
Appt: 3 Apr 2020ED, Ping An Insurance (Group) Company of China Ltd 中國平安保險(集團)股份有限公司Profile -
Wen, Dongfen 溫冬芬
Appt: 27 Apr 2020NED, CNOOC Ltd 中國海洋石油有限公司 -
Huang, Echo Shaomei 黃少媚
Appt: 1 May 2020ED, New World Development Company Ltd 新世界發展有限公司 -
Chiu, Jenny Wai Han 趙慧嫻
Appt: 1 May 2020ED, New World Development Company Ltd 新世界發展有限公司 -
Chow Woo, Susan Mo Fong 周胡慕芳
Appt: 7 May 2020NED, govt-apptd, Hong Kong Exchanges and Clearing Ltd 香港交易及結算所有限公司 -
Murray, Eileen 梅愛苓
Appt: 1 Jul 2020INED, HSBC Holdings plc 滙豐控股有限公司
Analysis
2 July 2020
There are six new female directors at five companies in this quarter, namely Tan Sin Yin, Jessica at Ping...
Analysis
New Female Director Appointments
2 July 2020
There are six new female directors at five companies in this quarter, namely Tan Sin Yin, Jessica at Ping An Insurance, Wen Dongfen at CNOOC, Huang Shaomei, Echo and Chiu Wai Han, Jenny at New World Development, Chow Woo Mo Fong, Susan at Hong Kong Exchanges and Clearing and Eileen Murray at HSBC.
Norway
Mar 2020
United Kingdom
Nov 2019
Australia
May 2020
Canada
Sep 2019
United States
May 2019
Malaysia
May 2019
New Zealand
Sep 2019
Singapore
Dec 2019
India
Mar 2020
Hong Kong
Jan 2020
Japan
Jul 2019
Analysis
2 July 2020
As of this quarter, there has been a year-on-year increase in female representation on boards by 2% to 17...
Analysis
Progress by Geography
2 July 2020
As of this quarter, there has been a year-on-year increase in female representation on boards by 2% to 17.0% in India and by 1.1% to 5.2% in Japan. In Hong Kong, however, female representation has not increased by more than one per cent since 2018.
Analytical Summary
This quarter brings good and bad news. Notably, women make up almost one-fifth of the new board director appointments, a record high since the start of this research in 2009. These new appointments have contributed to a slight increase in the overall percentage of women on boards from 13.4% to 13.7%, restoring female representation to the level recorded at the beginning of 2020.
1 July 2020
Despite the increase in female representation, the number of companies with multiple female directors or with female executive directors remains at the same level. This implies a widening gap between HSI companies: those already with at least one female director are appointing more women, whereas many of those without any are stagnant, if not regress. Indeed, this quarter recorded an increase of companies with all-male boards from eleven to twelve, making up almost a quarter of the HSI boards.
With the widening gap between companies, gender diversity on boards will further set companies apart from their peers. In fact, those that embrace the cause are reaping the benefits of a gender-diverse board. Based on six years of gender reporting among Australian companies, a recent study found that companies with a female CEO increased their market value by 5%, worth nearly $80 million to an ASX200 company on average.
Hong Kong should set a higher bar on board gender diversity. To speed up progress, imposing a mandated quota could be the way forward. Admittedly, this measure is no panacea as it may undermine meritocratic appointments. But as we continue to see stagnation despite years of advocacy, a stronger push might just be what the city needs.
Despite the increase in female representation, the number of companies with multiple female directors or with female executive directors remains at the same level. This implies a widening gap between HSI companies: those already with at least one female director are appointing more women, whereas many of those without any are stagnant, if not regress. Indeed, this quarter recorded an increase of companies with all-male boards from eleven to twelve, making up almost a quarter of the HSI boards.
With the widening gap between companies, gender diversity on boards will further set companies apart from their peers. In fact, those that embrace the cause are reaping the benefits of a gender-diverse board. Based on six years of gender reporting among Australian companies, a recent study found that companies with a female CEO increased their market value by 5%, worth nearly $80 million to an ASX200 company on average.
Hong Kong should set a higher bar on board gender diversity. To speed up progress, imposing a mandated quota could be the way forward. Admittedly, this measure is no panacea as it may undermine meritocratic appointments. But as we continue to see stagnation despite years of advocacy, a stronger push might just be what the city needs.