Boardroom diversity - an idea whose time has come

The NZX has a tiger by the tail. Its proposed diversity listing rules, released for consultation in March and since adopted, pending FMA approval, have created a momentum for change which has the potential to transform our corporate culture.

The formation of the "25 Percent Group", dedicated to increasing women's representation on New Zealand boards to 25% by 2015, virtually guarantees that. It's an ambitious target – more than doubling the number of woman directors within two and a half years - but the Group is well-positioned to achieve it as its 12 founding members have a lot of reach and influence.

They also have history on their side. It is clear from the public response to the NZX's proposals that this is an idea whose time has come.