NZX says women directors and senior managers of listed companies still number less than 20% in most cases.
The stock exchange operator has required listed companies to include in their annual reports breakdowns of the gender composition of their boards and senior management from the beginning of this year.
NZX says only 14% of directors of the 40 companies publishing annual reports in the three months to September were women.
There were 34 female directors and 209 male directors. Women accounted for just 16% of senior managers.
The chair of Mighty River Power, Joan Withers, who is also involved in a number of organisations aimed at improving the representation of women on boards, says she refuses to be other than optimistic board diversity will improve.