SINGAPORE (Nikkei Markets) -- The effort to boost diversity in Singapore boardrooms has improved the gender balance, but the culture of relying on personal networks to find potential directors remains a hurdle for women as well as those who lack the right connections.
Some 98% of listed companies identified potential independent directors through personal contacts of board members and management, says a recent survey by the government-backed Singapore Institute of Directors and Singapore Exchange Regulation. Just 17% said they also used executive search firms while a mere 8% said they used a service offered by the institute.
