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Daily Insurance Industry News
Tuesday 23rd of January 2018
February 25, 2011

FTSE 100 investors to watch over diversity

by Gill Montia

Story link: FTSE 100 investors to watch over diversity

FTSE 100 investors have been handed a watching brief on diversity in Lord Davies’ review of gender in the boardroom.

The government-sponsored study is recommending that UK listed companies in the FTSE 100 aim for a minimum of 25% female board members by 2015, while FTSE 350 companies should be setting their own “challenging” targets.

In addition, Lord Davies is asking investors to pay close attention to the recommendations of the review, which include chairmen publishing diversity goals and chief executives reviewing the percentage of women they aim to have on their executive committees in 2013 and 2015.

Furthermore, the Financial Reporting Council has been asked to amend the UK Corporate Governance Code to require listed companies to establish a policy concerning boardroom diversity.

Commenting on the launch of his report, Lord Davies said: “Currently 18 FTSE 100 companies have no female directors at all and nearly half of all FTSE 250 companies do not have a woman in the boardroom.”

He added: “Radical change is needed in the mindset of the business community if we are to implement the scale of change that is needed.”

According to Lord Davies: “There is growing evidence to show that diverse boards are better boards, delivering financial out-performance and stock market growth.”

 

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