Business leaders say mentoring talented female executives is the best way to address gender imbalance on the boards of Australia’s top listed companies.

The Business Council of Australia and the Australian Human Resources Institute have announced a new mentoring program called C-Suite, designed to improve poor representation of female executives on Australian boards.

Women hold less than 9% of the board positions on ASX200 companies.

The announcement follows a similar proposal by the Australian Institute of Company Directors, of which IAG Chairman James Strong is a member and mentor.

Mr Strong, speaking at a function at the Queensland University of Technology, says the low percentage of women serving on boards is “unacceptable”.