Slow progress on boardroom diversity
A recent call by the Association of British Insurers for more women on the boards of the UK listed companies in which its members invest looks likely to fall on deaf ears.
Lord Davies’ review into women on boards was published in February but according to new research from Cranfield Business School, only 33 FTSE 100 companies have since heeded its recommendation and set targets for the number of women they aim to have on their boards.
Of these 33, only ten have set themselves targets of greater than a 10% increase, although Lloyds Banking Group and Rolls Royce stand out for boldly aiming to increase their female representation by 20%, to 23%.
Lord Davies’ study actually recommended that UK listed companies in the FTSE 100 should aim for a minimum of 25% female board member representation by 2015.
Whereas, the number of women now holding FTSE 100 board directorships stands at 155 out of a total of 1,092 positions, or just over 14%
However, Co-author of the Cranfield report, Professor Susan Vinnicombe, remains optimistic, explaining: “Our review reveals that the number of women in board positions is beginning to creep up albeit quite slowly.
“There are however some very encouraging signs. Fourteen out of the 21 FTSE 100 new appointees and 20 out of the 28 FTSE 250 new appointees had no prior FTSE 100 or FTSE 250 board experience.
“This suggests the appointment process is beginning to open up to new women … and indicates that some Chairmen and search consultancies are following Lord Davies’ recommendations to broaden the talent pool.”
Category: ABI News
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