The Influence Pillar of 30% Club Malaysia was privileged to have an online fireside chat with Mr Devanesan Evanson on 23 October, where we drew his views as CEO of the Minority Shareholders Watch Group (MSWG) regarding Board-related matters, including diversity and inclusion.
The Influence Pillar was represented by Datuk Zunaidah Idris, Datin Sunita Rajakumar, Ilham Sunhaji (MBA), Nirmala Doraisamy, CGMA, FCMA, CA(M), Karpana Somasundram, and Susan Sha, while Pushpa Nair moderated the session.
On getting Boards to have a minimum of 30% women, Devanesan explained that MSWG will vote against a new male member on an all-male Board.
Although MSWG’s shareholding is small, this is a matter of principle. MSWG also questions boards at AGMs on their inability to get at least 1 woman on board.
While some countries mandate female representation at Boards, Malaysia has a principle-based Recommendation on gender diversity in the Code of Corporate Governance. In terms of effectiveness, MSWG finds naming and shaming is effective to encourage compliance.
The Influence Pillar thanks Mr Devanesan for sharing his views and agreeing to be our influencer to support and improve D&I in the Investors Community.
