☕️ First person to run the length of Africa

Good morning!

I hope the alarm wasn’t as intrusive this morning, after the end of daylight saving.

I’ve got 10 seconds

Quote of the day

“If you drink too much or you eat too much or you walk too much; if you do too much of anything, you’re going to suffer eventually.”
John Tinniswood, who at the age of 111 has just been named the World’s Oldest Man by by the Guinness World Records. Tinniswood was born in 1912, the same year the Titanic sunk.

Stat of the day

$US160 million ($AU243m)
The amount plane manufacturer Boeing has paid to Alaska Airlines, after a door blew off a plane on one of the airline’s flights earlier this year.

Today in history

1817
Australia's first bank, the Bank of New South Wales (now Westpac), was established.

I’ve got 30 seconds

Some headlines from this morning:

• A man nicknamed “Hardest Geezer” has become the first person to run the full length of Africa. After 16,000km, 352 days and 16 countries, Russ Cook crossed the finish line on Sunday afternoon. On the last day, he told Sky News he was a “bit tired”. The UK man raised more than £600,000 ($AU1.15m) for charity along the way. The money will go to Running Charity, which provides help for young people experiencing homelessness, and Sandblast, which promotes awareness of the Saharawi people.

• Disney will crack down on password sharing on its streaming service. CEO Bob Iger said restrictions will roll out from June, limiting the number of viewers accessing content through single user accounts. In an interview with U.S. news outlet CNBC, Iger said Disney will launch its “first real foray” into password sharing in a handful of countries, before expanding to a “full rollout” in September. Netflix boosted its subscriber numbers by millions after the streaming giant launched a similar crackdown last year.

I’ve got 1 minute

Here’s what the 2024 Board Diversity Index tells us

A new report on corporate boards in Australia has found female representation has improved in 2023, but boards need to be “more inclusive”.

The independent report – from The Governance Institute of Australia and Watermark Search International – analysed key areas including age, gender, sexuality, and the cultural background of board members on more than 100 companies.

Report

A board is a company’s governing body. Members (or ‘directors’) oversee things including strategy, finance, performance and management of a company.

The report analysed data from 123 ASX300 companies — an index of the 300 largest companies listed on the stock exchange.

It found while progress had been made in the representation of women on boards, there was “very little progress” in areas including cultural background and representation of LGBTQ+ or people with disability.

Gender

• Since 2015, the number of board positions held by women has increased by 89%.

• Female representation on smaller company boards fell from 44% in 2022 to 32% in 2023.

• 13 boards have no female directors.

Age and tenure

• The average age of directors is 62 for men and 59 for women.

• The most common length of time a member serves as a board chair is 4 – 9 years.

• On average, men stay on boards longer than women.

Cultural diversity

• ASX300 directors with non-European backgrounds increased from 2.4% in 2017 to 6.6% in 2023.

• There were more Anglo-Celtic board members in 2023 than in 2017 (91.2% compared to 90.5%).

• First Nations people hold 0.3% of board positions.

LGBTQ+

• The report identified four board directors who openly identify as LGBTQ+.

• However, research by the Australian Association of LGBTQ+ Board and Executive Inclusion (ALBEI) shows there are as many as 20 LGBTQ+ directors in 2024.

Disability

Australians with disability represent about one-fifth of the population, but there is no reported data of any directors with disability on ASX300 boards.

I’ve got 2 minutes

40% of large companies use non-compete or no-poach clauses. What are they?

The Federal Government says it’s concerned young workers are being held back by agreements in their employment contracts.

Assistant Employment Minister Andrew Leigh has raised concerns about an increase in the use of restraint clauses by employers — e.g “non-compete” or “no-poach” agreements.

Leigh said the clauses could see young people working for lower wages and in poorer conditions than they’re entitled to.

So, what are restraint clauses?

Non-competes

Non-compete clauses are included in employment contracts to restrict a worker from moving to a competitor.

Typically, the conditions of a non-compete will apply for a specific period. For example, a marketing assistant who resigns, and is contractually restricted from working at another marketing firm for three months.

An employer may enforce non-competes to protect client relationships and contacts, or knowledge about a business.

‘No-poach’

No-poach agreements normally exist between employers, who agree not to hire the current or former staff of another business. This can happen between franchises at major fast-food chains like Domino‘s and McDonald’s.

For example, if a McDonald’s worker wants to move to another location to get better pay and conditions, a ‘no-poach’ agreement could stop them from doing so.

More than two-thirds of McDonald’s staff are aged between 14 and 18, while Domino’s hires staff from age 13.

Low-paid jobs

Recently, Assistant Employment Minister Andrew Leigh expressed concern about the prevalence of restraint clauses in lower-paid workers’ contracts.

During a speech at the McKell Institute in Sydney, he cited Australian Bureau of Statistics data showing 40% of large companies (more than 1,000 employees) use non-compete or no-poach agreements.

Young people

Leigh told TDA these clauses risk locking young people into working for an employer “who doesn't pay them what they're worth or doesn't treat them the way they deserve to be treated”.

Leigh cited one example where a Locksmith sued a teenage key-cutter for working at a rival company because the ex-employee had signed a non-compete clause.

“[This] can only have the effect of dampening down the wages of a teenager,“ he said.

The government is considering reforms to restraint clauses after releasing an ‘Issues Paper’ — a research piece into a particular topic, like a university essay.

Opposition employment spokesperson Michaelia Cash did not respond to TDA’s request for comment.

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In July 2012, 18-year-old Thomas Kelly was coward punched by Kieran Loveridge during a random attack in Sydney’s once-popular nightlife district of Kings Cross.

The incident was part of a spate of violence in the area and led the NSW Government to introduce the city’s now-defunct lockout laws.

Last week, Kieran Loveridge was granted parole towards the end of his 13-year sentence. On today’s podcast, we’ll look at the original incident that changed Sydney forever, the lockout laws, and where we’re at 14 years on.

Give me some good news

Researchers have developed the largest ever 3D map of the universe.

The map was developed using a scientific tool called the Dark Energy Spectroscopic Instrument, or DESI.

DESI collected data showing more than six million galaxies – three times as many galaxies as astronomers previously thought existed. Researchers are hoping the map will help them measure the speed at which the universe has expanded throughout history.

TDA tidbit

Imagine making a really big mistake at your job. Now imagine you did that in front of the President of France and a thousand cameras.

For French diver Alexis Jandard, this nightmare was a reality, when he slipped and bounced off the diving board at the opening of a new pool for the Paris Olympics. You can watch here.

Jandard said after: “My back is fine, [but] my ego…”

TDA asks