Aurora50 Loader
Aurora50 Logo

Bloomberg: Aurora50 CEO on increasing women on UAE boards

Aurora50 in the media - Diana Wilde on Bloomberg Daybreak, 16/03/21
Suzanne Locke 17 March 2021
Share
 
As ESCA announced its mandate for all UAE listed companies to put one woman on their board, Aurora50 co-founder Diana Wilde spoke to Bloomberg’s Manus Cranny on Bloomberg Daybreak: Middle East to discuss gender parity in the GCC and why there is a “business need” for the quota, as gender parity would add $101 billion to the UAE economy.
“It is going to become the case that if the boards aren’t balanced you will be at a competitive disadvantage,” Ms Wilde warned.
She told Bloomberg the quota would make a “dramatic change” to the UAE, starting at a fairly low low base of 3.5 percent of public companies having a woman on board, compared to 33 percent in the UK or a woman on every board on the S&P index in the US.
Two-thirds of companies on the UAE’s listed boards come from banking and insurance, she said but, looking at the wider economy, corporate companies like ADNOC and Mubadala have been “working hard at this for a long time”.
You can’t make these [UAE board] changes any quicker than the appointments are available. Diana Wilde, Aurora50 co-founder 
There is a “long pipeline” of “very competent” women in the fields of science, technology, engineering and maths (STEM), she added. But with 70 percent of boards being all-male, and using their own networks – mostly men – to find nominations for new board members, it is important to connect boards with the pipeline of female talent that is being developed. Accelerator programmes like Aurora50’s Pathway can accelerate women’s board careers by providing board-ready women with mentorship and allow them to debate board-level issues, Ms Wilde said.
Of the 110 companies listed in the UAE, only 28 currently have women holding board seats. “Realistically, though, you can’t make these changes any quicker than the appointments are available, so this is going to take a bit of time,” she said. Progress should also be reviewed across the whole economy, from government to the private sector, rather than only in listed companies. “If we just focus on those numbers we’re not really focusing on the true picture,” Ms Wilde told Bloomberg.

Related posts

  • Aurora50 in the media - Dubai One, 20/06/22

    Dubai One: Number of women in boardrooms doubled in UAE

    Diana Wilde, co-founder of Aurora50, talks to Business Breakfast’s Richard Dean, as seen on Dubai One, about the number of women in UAE boardrooms doubling and the issue of ‘over-boarding’.

  • Female Captain Nouf Omar, an airline pilot at Emirates Airlines, speaks at Aurora50's The Inclusion Summit 2023 in Abu Dhabi on 9 November.

    The Inclusion Summit 2023 – in the media

    Aurora50’s The Inclusion Summit 2023 was widely reported in the press MENA-wide in both English and Arabic.

  • Aurora50 in the media - Al Bayan, 16/06/22

    Al Bayan: Increasing the number of women on the boards of directors of UAE companies

    أدت الجهود الحثيثة، التي تبذلها دولة الإمارات في سعيها المستمر نحو تحسين التنوع بين الجنسين إلى زيادة عدد المناصب، التي تشغلها النساء في مجالس الإدارة لهذا العام إلى 8.9%، لتسجل بذلك ارتفاعاً بنسبة 3.5 % بالمقارنة مع عام 2020، وذلك وفقاً لبحث أجرته مؤسسة أرورا 50 الاجتماعية، وهي مؤسسة تعمل على تحقيق التكافؤ بين الجنسين في مجالس إدارة دول مجلس التعاون الخليجي، بالتعاون مع كلية محمد بن راشد للإدارة الحكومية.