Watermark’s 2025 Board Diversity Index webinar brought together a panel of experienced board directors to explore board diversity in Australia. With a focus on practical strategies, lived experiences, and sector-specific challenges, the conversation offered insights for anyone committed to building more inclusive leadership as well as the blind spots if you don’t.
David Evans, Managing Partner at Watermark Search International, went through the results of our 2025 Board Diversity Index, focusing on the highlights and trends over the past 11 years.
Meet the Panel
Marina Go AM – Chair: National Foundation for Australia-China Relations (NFACR); Non-Executive Director: Australian Institute of Company Directors (AICD), Metcash, Southern Cross Austereo, Transurban, Adore Beauty
Karina Kwan - Non-Executive Director: HSBC, Export Finance Australia, Wilson Asset Management
Peter Barker – Chair & Non-Executive Director: Mastermyne Group; Non-Executive Director: Downer, WorkPac
Key Themes and Takeaways
Marina Go AM emphasised that while metrics matter, true progress comes from embedding diversity into the culture. She shared strategies that have worked across industries, including:
Start with ‘why’
Measure diversity in all of its forms
The whole board needs to own it – diverse perspectives are not just the responsibility of the diverse person
Style and fit are a type of diversity
Peter Barker addressed the unique challenges faced by boards in heavy industries. Despite perceptions, his experience shows that meaningful change is possible. He highlighted:
The ‘why’ is crucial – having a board that represents your stakeholders
Make slow and steady progress
The talent pools of diverse candidates are there, you just need to look for them
The Chair needs to set the standards and expectations of the boards inclusive culture
Karina Kwan brought an international lens to the discussion, reflecting on how economic shifts are reshaping board skillsets. She spoke about how her own lived experience informs her approach to governance and inclusion, noting:
Are our boards representative of the markets and people who we serve, both internationally and locally?
How diverse backgrounds contribute to better risk management and innovation
The need for a culturally diverse mindset on boards – to see blind spots and opportunities that not all will see
The importance of mentoring and sponsorship in opening doors
Top Tips from the Panel
To close the session, each speaker shared their top tip for boosting diversity in all its forms:
Marina Go AM: Get a sponsor – find someone who will champion you.
Peter Barker: Work with the recruitment process to understand the skills matrix and where you and your super strengths and flanks will fit.
Karina Kwan: In your organisation, set up a programme where you can have C-Suite/Executives sit in on your board either as an observer or a non-voting member. They bring in operational experience and it enhances their skillset in governance.
Watch the full recording of the webinar here -
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