Female board directorships on the rise, but more focus needed to raise diversity, council says

SINGAPORE – More women now hold directorship roles at work, showing a trend of Singapore boards increasing their diversity, according to statistics from the Council for Board Diversity (CBD) released on May 8.

According to CBD’s data, women now hold 36.1 per cent of board seats in the public sector, 35.6 per cent in Institutions of a Public Character (IPCs) and 25.8 per cent in the top 100 Singapore Exchange primary-listed companies, with an 18 percentage point increase in board seats since 2013, when the CBD started tracking board composition as a long-term indicator of board diversity progress.

Notably, the proportion of women board chairs among the top 100 SGX primary-listed companies rose to 10 per cent in 2025 from 8 per cent the previous year.

“This signals meaningful progress beyond representation as more women take on leadership roles that shape board agenda, decision-making and governance outcomes,” said the CBD on May 8. The aim is for the proportion of women directors to reach 30 per cent by 2030, it added.

The CBD’s data covers more than 1,300 organisations across Singapore-listed companies, statutory boards and IPCs.

IPC is a status accorded to a registered charity or an exempt charity for a period of time.

Alongside CBD’s data is a new Board Diversity and Inclusion Study, jointly undertaken with leadership advisory firm Egon Zehnder. The study surveyed 170 company directors.

While increasing the diversity of representation on boards is important, the joint study also highlighted the importance of working towards true conviction in the benefits of diversity rather than just complying with industry standards, said the CBD.

The joint study revealed a high consensus among Singapore directors on the fundamental value of diversity, with 89 per cent of respondents agreeing that varied perspectives lead to more insightful board discussions, on a par with the 90 per cent global average.

However, there is a difference in the intensity of this belief – 67 per cent of directors globally strongly agreed with this view, compared with 40 per cent of Singapore respondents. This indicates that while diversity is widely accepted, the next phase of boardroom evolution in Singapore is building true conviction.

Mr Gan Seow Kee, co-chair of the CBD and chairman of Singapore LNG Corporation, said: “Beyond the headline numbers, what is encouraging is the breadth of new talent entering boardrooms. Intentional succession planning for board renewal is critical.

“As organisations confront increasingly complex challenges, a wider, more diverse pool of board-ready candidates strengthens outcomes for the future.”