(fourth from left) Marzida, Siti Hajar, guest of honour National sports Council board member Datuk Hamidah Naziadin, and Yee capturing memories with fellow partners and participants of Deloitte Malaysia’s Board-Ready women 2024 programme, which supports efforts towards a 30% women representation on boards and equip them to be effective in their roles to promote good corporate governance. — FAIHAN GHANI/The Star
SHE thought she had made it. As the only female among a group of senior managers reporting to a managing director of a public-listed company, she felt a sense of accomplishment.
Then it suddenly dawned on her—the sky would be awfully dark if there was just one star.
“It didn’t occur to me that I had a role to uplift and bring along other women when I was in that company. I came to that realisation only after I joined Shell.
“You may have been successful in your own role and perhaps received support from senior leaders, but don’t forget that you have a responsibility to support other women and help bring them along,” says Marzida Mohd Noor, independent director at Affin Bank Berhad and Heriot-Watt University Malaysia, as well as the activate pillar lead for the 30% Club.
Noting that male allies are also crucial in this effort, Marzida emphasises, “We should not forget our male allies. This is not just a women’s issue; it’s about everyone coming together to address it.”
Marzida spoke to StarESG at the recent Deloitte Malaysia Board-Ready Women programme, highlighting the importance of understanding the contrast between management and board responsibilities.
“Board members must avoid becoming operational and focus on oversight and strategy. There is always one question asked in interviews for board positions: what is the difference between being in management and being a board member?” she shares.
Star Media Group chief business officer Lydia Wang (right) participated in the Board-Ready Women programme 2024. — FAIHAN GHANI/The Star
Inspiring women
An initiative under the Deloitte Global Boardroom Program, the Board-Ready Women programme first launched in 2023 with the aim to support efforts towards a 30% women representation on boards and equip them to be effective in their roles to promote good corporate governance.
In partnership with BoardRoom Malaysia, Institute of Corporate Directors Malaysia (ICDM), and 30% Club Malaysia, the programme offers participants valuable industry insights into the latest trends, technical thought leadership, and essential soft skills to excel in the boardroom as well as exclusive networking opportunities with board decision makers, industry leaders, and knowledge partners.
Entering its second edition, the Board-Ready Women programme comprised a series of four interactive modules – starting your board journey; boardroom simulation, understanding personal attributes, board-ready inspired women – which helped set the foundation for the first board role, by discussing the latest trends, case studies and essential soft skills.
A total of 29 participants had the opportunity to engage in networking and knowledge-sharing opportunities with senior board members, industry leaders, and seasoned professionals from top Malaysian public and private organisations.
Being in the know
Board-Ready Women programme leader Siti Hajar Osman, who is also Deloitte Malaysia Financial Services Industry and Islamic Finance team leader, emphasises that the programme builds technical and soft skills as well as the importance of networking and mentorship.
She notes that the challenges women face in the workplace, particularly regarding gender stereotypes and limited access to networks, are significant.
Thus, the Board-Ready Women programme encourages participants to voice their ideas and be proactive in board settings. This empowerment is crucial for fostering diverse perspectives in leadership roles.
“Collaboration among women and the need for support networks is vital.
“By uniting and uplifting each other, women can break down barriers and create a more inclusive environment. While some may prefer not to socialise, building relationships is important.
“Having a networking plan can provide valuable insights and resources that participants may not otherwise access. I hope the programme continues to inspire more women to take on leadership roles and speak up confidently,” says Siti Hajar.
She highlights Deloitte’s Women in the Boardroom: A Global Perspective report, which shows Malaysia’s increasing progress in recent years, surpassing the average number of women on boards in the Asia Pacific by approximately 13%. However, the percentage of women chairing boards is nearly five times lower, at 6.2%.
“As a catalyst for change, the Board-Ready Women programme aims to encourage other women to seize leadership opportunities and excel in their roles as board members,” she adds.
Allies for empowerment
Michelle Obama stated, “Strong men – men who are truly role models – don’t need to put down women to make themselves feel powerful. People who are truly strong lift others up.”
Deloitte Malaysia country managing partner Yee Wing Peng, exemplifies this belief.
He emphasises that men can play a crucial role in mentoring aspiring female leaders. By fostering collaboration rather than competition, Yee believes both men and women can enhance their capabilities and contribute to robust economic development in Malaysia.
“Women, in terms of their capabilities and ability to acquire new knowledge and contribute to the corporate world, are actually equal, if not better, than men.
“I believe that regardless of gender, when we hold positions of influence, it is our responsibility to contribute meaningfully. I would be delighted to share my experience and knowledge with female executives aspiring to join boards, helping them develop the skills necessary to eventually become board chairwomen.”
Yee notes the growing recognition of women’s capabilities in the corporate world, and he asserts that Deloitte aims to create more awareness and opportunities for women to take on senior roles.
“Currently, men are more represented in the corporate sector, but growing self-awareness among women regarding their capabilities is likely to lead to increased female representation, especially on boards.
“This shift promotes collaboration rather than competition between genders, fostering improvement for everyone involved.
“A strong mix of both male and female leaders is essential for vibrant economic development, requiring robust management teams and effective boards to provide governance and oversight.
“The focus is on building an inclusive environment where everyone, regardless of gender, can thrive and improve, ultimately benefiting Malaysia’s economy,” he says.
Yee notes that Malaysia is one of only four emerging markets where more than 20% of the top 100 public-listed companies’ board seats are held by women.
However, there are still many non-listed boards who have not appointed at least one female representative. Quoting Deloitte’s Women in the Boardroom: A Global Perspective report, he elaborated that concerted efforts from businesses across all sectors and markets are still required to more accurately reflect the societies that they operate in, despite a 4.5% increase in listed companies in Malaysia incorporating women into their boardrooms since 2021.
Based on the current rate of progress, the report’s projections further revealed that it is unlikely for gender parity on boards to be achieved before 2038.
