Gender diversity key in Mirvac's two new board appointments

Mirvac Group has announced the appointment of Christine Bartlett and Samantha Mostyn as non-executive directors on the Mirvac board.

It takes the number of women on the eight-person board to four, including its CEO Susan Lloyd-Hurwitz.

It coincides with a report from EY Australia and the Property Council that found that by failing to embrace gender diversity, the Australian property industry was missing out on an important opportunity to lift its financial performance.

The report, entitled The next big deal is on: Property industry, where are you on gender diversity, tracks the industry’s performance on the gender ‘smart curve’ and provides analysis and recommendations for the sector to improve its score.

Property Council of Australia chief executive, Ken Morrison said gender diversity in the workplace made good business sense, adding the property industry has proven its credentials when it comes to embedding safety, technology and sustainability across the sector.

"The same sharp focus now needs to expand to also address gender equity,” Morrison said.

Mirvac, which is chaired by John Mulcahy, was one of 16 ASX 200 companies noted in 2013 to have truly embedded the principles of gender diversity and was rated a green light in the Women on Boards 2013 Traffic Light Index.

“I am pleased to welcome Christine, who has a wealth of executive experience, and Sam, who brings significant executive director experience, to the Mirvac Board," Mulcahy said.

“Christine has a strong corporate background, having held senior executive positions for a number of large organisations in the information technology, finance and property sectors, while Sam is an experienced executive and company director in organisations that span corporate and government sectors.

“Their vast skills and knowledge across a number of industries means they are well-equipped to provide valuable insight to the board and management, who are focused on understanding the role property has to play in a rapidly changing world.

“The appointment of Christine and Sam complements the skills of our existing Board members and increases the number of directors to eight, which we believe is an appropriately sized board for the scale and complexity of the Mirvac Group.” 

Bartlett’s appointment was effective yesterday and Mostyn’s appointment will be effective on 1 March 2015.

Bartlett is currently the executive general manager, asset servicing at National Australia Bank (NAB). Prior to this appointment, Bartlett was the executive program director, NextGen at NAB. She has also held positions as chief executive officer of Jones Lang LaSalle Australia and chief operating officer for IBM's Business Consulting Services in the Asia Pacific region. She is a director of The Smith Family and a member of the Australian School of Business Advisory Board, Chief Executive Women and the Australian Institute of Company Directors.

Mostyn is a non-executive director and corporate advisor, and is currently a non-executive director of Virgin Australia, Transurban Holdings Ltd and CoverMore Limited. She also serves on the Citigroup Pty Ltd (Australian Operations), Climate Council, Climate Works Australia, the Advisory Board of the Crawford School of Government and Economics at the Australian National University and is the President of the Australian Council for International Development. She is deputy chair of the Diversity Council of Australia, and has served as an AFL Commissioner since 2005. Prior to assuming company directorships, Mostyn held senior executive positions at IAG, Optus and Cable & Wireless Plc. 

Diversity has been a major focus area for Mirvac since it introduced a policy in 2011. In July this year, Mirvac was one of six companies to receive the highest rating in the BlackRock report on gender diversity. 

Its gender diversity targets were to achieve having 35% female representation on the Mirvac board, now met, and in senior executive positions by the end of the 2015 financial year, currently at 34%.

Mirvac's existing board members included Elana Rubin who was appointed in 2010. Elana is a director of several NAB life insurance and asset management subsidiaries, a director of PPB Advisory, and a member of the federal government’s Infrastructure Australia Council, the Qualitas Properties Advisory Board and the Victorian Council of the Australian Institute of Company Directors.

Marina Darling resigned on 24 January 2014 after two years. 

The total women in Mirvac workforce (FTE) target by 2015 is 50%, but currently sits at 39%.

The Property Council launched Male Property Champions of Change was set up recently to take up the challenge of gender diversity in the industry.

The group, convened by Carol Schwartz, is made up of chief executives and chairmen in the property industry including:

• Angus McNaughton, Novion
• Bob Johnston, Australand
• Darren Steinberg, DEXUS Property Group
• Daryl Browning, ISPT
• David Southon, Charter Hall
• David Woolford, Cushman Wakefield
• John Kenny, Colliers International
• John Mulcahy, Mirvac Group
• Jonathan Callaghan, Investa Property Group
• Mark Steiner, Stockland
• Paul McLean, Savills
• Peter Allen, Scentre Group
• Stephen Conry, JLL
• Stephen Ellis, Knight Frank
• Steve McCann, Lend Lease
• Steven Leigh, QIC
• Steven Sewell, Federation Centres