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Issue 8, January 28 2011Guest column by Jillian Segal AM: Report from Australian delegation toGlobal Women’s Forum for the Economy and Society, Deauville, October2010Australia‟s approach to increasing the numbers of women on boards and in senior management hasreceived improved global recognition as a result of our presence as an invited official delegation at thesixth Women‟s Forum for the Economy and Society in France in October 2010.Although most European countries are heading in the direction of legislated quotas to kick-start theprocess of significantly increasing the number of women on boards, the Americans were particularlyimpressed by the ASX Corporate Governance Council approach of a business led model of voluntary butdisclosed compliance.Aude Zieseniss de Thuin, a Swiss sociologist and psychologist, founded the Women‟s Forum for theEconomy and Society in 2003 after she was not invited to the Davos Forum that Year. On the philosophyof „if you can‟t join „em, beat them‟, de Thuin established a high-level women‟s forum that aimed toaddress key issues for women, and for the world, at its annual meeting in Deauville, France.This year an Australian delegation of eight women attended, led by Jan Elsner and Barbara Heilemannfrom Positive Leadership, (who had attended previously) as well as Carol Schwartz, director of Stockland,Catherine McDowell, head of ANZ private banking, Amanda Mostyn from ASX, Jane Harvey NED fromMelbourne, Christine Stasi from PWC and myself.Other official delegations this year were from Scandinavia and South Africa. The forum was attended by1300 delegates and attracted significant corporate sponsors, among them Sanofi-Aventis, Astrazeneca,the Renault-Nissan Alliance, Boston Consulting, McKinsey and Ernst and Young. High level delegationsattended from the US and all over Europe and several of them included CEOs. The very impressiveFrench Minister, Christine Lagarde, who is Minister of Economic Affairs, Industry and Employment, gavea keynote address.The program was broad, covering issues such as the environment, sustainability, better cities, healthpartnerships, sustainable food production as well as issues that focused more directly on women‟sempowerment in business, such as woman‟s approach to risk, the issue of women on family companyboards etc. The full program can be found at:http://www.womens-forum.com/index.php/main/meetings/program/14One of the inspiring events was the Cartier Initiative which gave Awards to young female entrepreneursand which showcased an exciting range of innovative projects. There was considerable participation byAfrican women.

The Australian delegation‟s main focus was women on boards. I was honoured to be asked to present onthe Australian approach.We valued the opportunity to meet with delegates and learn about the approaches being taken by othercountries.In Paris, before the Forum, an International and French invited business audience attended a speciallunch hosted by PwC to hear about the Australian situation. Christine, Jan, Barbara and I discussed theagenda for change in Australia including the history and current momentum with the ASX voluntarytargets initiative.Also, prior to the Forum we visited the National Assembly of France where we met with their Delegationfor Women‟s Rights and Equal Opportunities Between Men and Women, a 36-member body on whicheach of the political parties has representation in proportion to their parliamentary numbers. Their job isto monitor legislation covering women‟s participation in society and the economy.This multi-party body is promoting the quotas legislation that is currently being implemented in Francebecause they believe that legislation is the only thing that works. It was important for us to understand thecontext and cultural background of what is happening in Europe.We heard a similar message from the European Union. The strong message was that unless there israpid progress there was likely to be EU legislation for quotas.The strong view expressed at the forum was that increasing the numbers of women on boards and inmanagement had stalled, the pipeline was not working, and that something had to happen to kickstart theprocess. In most countries it was recognised that quotas by themselves are not sufficient because theyjust address the Board issue and do not necessarily imbed positive change but it was thought it wouldkick start the change.Delegates were very interested in the Australian model - “our kickstart” – being self-determined andtransparent targets for management and boards. They understood that our model includes the advantageof also focusing on management. I spoke to the Forum about “The Ecology of Change” with a shift infocus from “why” to include a suite of complementary initiatives that are about the “how”: director and C-suite mentoring, male champions of change, highlighting strategies that work, CEO tool kits andsponsorship to reinforce and backup the voluntary compliance model.Of specific interest was the change in dialogue amongst boards and CEOs since the announcement ofour initiatives and the increasing number of female board and senior management appointments whichhave already taken place.Many at the Forum appreciated the importance of business driving the change, and applauded theAustralian model for this feature. The Americans were particularly interested in the Australian approachas they have no appetite at present for quotas on this issue. Since the Forum, I have received a numberof invitations to speak at events in the United States.One of the most interesting sessions was one where more than 20 high-level CEOs met behind closeddoors to thrash out a set of practical steps to advancing women‟s empowerment. They agreed, asreported to a plenary by five of their number – one woman and four men – to six CEO Commitments:1) As CEO, be visibly committed and embed women‟s advancement into business strategy: Buildwomen‟s advancement into the strategy of the company operations, driven by the CEO and leadershipteam. Change our workplace culture and mindset and empower both men and women to drive women‟sinitiatives.2) Require diverse candidates as a priority Recruit, develop, and retain diverse candidates as a priority:When considering candidates for leadership positions, at least one woman will be on every candidateslate.3) Hold ourselves accountable for progress:Define stretch goals around increasing women in our boards,executive committees, or running major parts of our businesses. We will each measure progress andpresent a thoughtful game plan at Women‟s Forum in 2011.4) Build the CEO Champion network: Work together to increase the dialogue among our peers - andcreate peer pressure - to build our network of CEO Champions, including a “plus one” strategy for nextyear‟s Women‟s Forum (each CEO to bring one or more of their peers).5) Create a catalogue of best practices and engage in cross-company mentoring of talented women.6) Develop ways to foster balance between personal and professional lives for men and women in ourworkforces (focusing on all generations in the workforce).They have agreed to report back to the 2011 Forum on progress of these commitments.2

In summary, participating in the Women‟s Forum was invaluable because it enabled the Australiandelegation to really understand how different countries are dealing with the need to produce a rapidincrease in the numbers of women on boards and in managements. I was left with the view that ourapproach had many others watching and that 2011/12 will be a key period for assessing whether ourapproach continues with real momentum or whether ultimately legislation will be required here as well.Jillian Segal AM is a non-executive director of ASX Limited and NAB.This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, Deloitte Global Services Limited,Deloitte Global Services Holdings Limited, the Deloitte Touche Tohmatsu Verein, any of their member firms, or any of the foregoing‟saffiliates (collectively the “Deloitte Network”) are, by means of this publication, rendering accounting, business, financial, investment,legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor shouldit be used as a basis for any decision or action that may affect your finances or your business.Before making any decision or taking any action that may affect your finances or your business, you should consult a qualifiedprofessional adviser. No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relieson this publication.About DeloitteDeloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network ofmember firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/au/about for a detaileddescription of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With aglobally connected network of member firms in more than 140 countries, Deloitte brings world-class capabilities and deep local expertiseto help clients succeed wherever they operate. Deloitte's approximately 169,000 professionals are committed to becoming the standardof excellence.About Deloitte AustraliaIn Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia‟s leading professionalservices firms. Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services throughapproximately 4,500 people across the country. Focused on the creation of value and growth, and known as an employer of choice forinnovative human resources programs, we are dedicated to helping our clients and our people excel. For more information, please visitour web site at www.deloitte.com.au.Liability limited by a scheme approved under Professional Standards Legislation.Member of Deloitte Touche Tohmatsu Limited© 2010 Deloitte Touche Tohmatsu3