A Directory of women leaders for boards unveiled by Allies

Press Release: A directory of women leaders for board published by WFB Allies?

On 8 Sep 2022, at Board Room National Bank of Pakistan Head Office Karachi, 25 high powered Chairpersons, directors and CEOs of market leader business entities participated in a ceremony to unveil a “Directory of Women Leaders for Boards”. The Directory was developed by “Women for Board Allies” which is an initiative by Diversity Hub HR Metrics . Following distinguished board leaders participated in this meeting.

1.????Adnan Afridi: Chairman NIT?

2.????Ahsan M. Saleem: CEO and MD Crescent Group

3.????Amir Paracha Chairman and CEO Unilever Pakistan

4.????Arif Habib: CEO Arif Habib Corp and Chairman Fatima Fertilizers Company Ltd

5.????Fathema Zuberi, HR Director Unilever

6.????Furqan Ahmed Syed: CEO PepsiCo Pakistan

7.????Ghias Khan, CEO Engro Corporation

8.????Humayun Bashir: Chairman NCCPL

9.????Rehmat Ali Hasnie: President NBP

10.?Saba Kamal: Member BOD Packages Group

11.?Taimur Dawood: Chairman Descon

12.?Veqar Islam: CEO Jaffer Business Systems

13.?Waqar Ahmed Malik: MD Fauji Foundation & Chairman of Fauji Group of companies

14.?Yousaf Hussain: President Faysal Bank

15.?Zubyr Soomro: Chairman United National Bank

Following members of Steering Committee WFB Allies briefed distinguished guests regarding this initiative

1. Musharaf Hai (Chair): Former CEO Unilever and L’ORéAL Pakistan
2. Asma Shaikh: CHRO National Bank of Pakistan.??
3. Fatima Asad-Said: CEO Abacus Consulting Technology Limited
4. Jehan Ara: CEO Katalyst Labs
5. Moneeza Butt: Partner KPMG Pakistan
6. Tahira Raza: Board Director Habib Metropolitan Bank
7. Zaffar A. Khan: Former CEO Engro Corporation
8. Zahid Mubarik: CEO HR Metrics

Meeting was also attended by Inayat Hussain: Deputy Governor State Bank of Pakistan.

A growing body of international research shows that the presence of women on boards and in business leadership can have positive effects on the management,?financial?and social?performance of companies. According to McKinsey & Company 2019 research, companies in the top-quartile for gender diversity on executive teams were 25 percent more likely to have above-average profitability than companies in the fourth quartile.?

Sustainable Development Goal 5 calls for gender equality. Environment, Social and Governance (ESG) disclosure frameworks?across the world emphasize?gender quality to ensure long term sustainability of organizations, industries, economies and the world.

Future-focused organizations have articulated goals to ensure long-term sustainability of our planet and the people. Stakeholders are becoming more globally diverse and networked, as organizations are increasingly mobile in managing their teams, supply chains, shared services and operational processes. To achieve excellence, leaders need to adopt inclusive and collaborative approaches to their management strategies that reflect a variety of perspectives, cognitive, cultural and linguistic differences in their decision process.

As per Pakistan Companies Act 2017, public interest companies to have at least one-woman director?on the board. According to research by Securities and Exchange Commission of Pakistan, women directors?is?increasing gradually?(8.8% in 2017,?12% in 2019?and 14.4% in 2021).?

Diversity Hub-HR Metrics is leading an initiative, aptly called the WOMEN FOR BOARD ALLIES. Its mission is to:?

• Identify high quality women leaders with functional expertise and wide range of experience which merits board director and leadership role.
• Advocate and empower women by raising awareness of organizations regarding social and economic benefits of gender diversity at board level?
• Engage and support companies to achieve Sustainable Development goals.
• Help companies to comply with SECP directives regarding women on board.
• Promote coaching, mentoring and networking opportunities to potential leaders.?

Companies not having women on boards usually take the plea that there is not enough women talent in the industry for governance roles. WFB Allies therefore?prepared a directory of capable women who?have the competencies?for board positions.?Women of good professional standing in C-suite or board director are eligible to be part of this directory.?It is in no way presumed to be an exhaustive list but developed on the basis of women known in the industry for their achievements and wide range of diverse experience. The first version of WFB Directory contains?40 women?of substance.?Going forward, there will be regular new editions and directory will be expanding in the scope and scale.?

The objective?of this meeting was to?engage board?leaders?to?reiterate the importance of gender diversity at board level,?seek further insights and ideas to?use this?directory.?Musharaf Hai?Former CEO Unilever and L’ORéAL Pakistan, Chairperson Steering Committee WFB Allies?said “WFB Allies?are believers in the cause, we need solidarity and a collaborative effort; to?define the moment and create the difference”.?She also mentioned that this is a transformation journey to create a platform for women leaders to achieve top of mind on the professional map.

Meeting ended with note of thanks by Zahid Mubarik SHRM-SCP, SPHRi, GPHR Convenor WFB Allies and CEO HR Metrics. He encouraged participants to benefit from diverse women talent and recommend more eligible women for next edition of the directory.