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Women now make up 25% of top 100 boards | |
(35 minutes later) | |
The UK's top companies have reached a "major milestone" in increasing the number of women in their boardrooms, but more needs to be done, a report says. | |
FTSE 100 companies have now met a voluntary target of 25% women board members, says the report's author, former trade minister Lord Davies. | FTSE 100 companies have now met a voluntary target of 25% women board members, says the report's author, former trade minister Lord Davies. |
But he says this should now be replaced by a new target of 33% of women board members at FTSE 350 firms by 2020. | But he says this should now be replaced by a new target of 33% of women board members at FTSE 350 firms by 2020. |
His full report is due out later. | His full report is due out later. |
Lord Davies said there had been a "steady and sustained increase" in the number of women serving on FTSE boards since 2011, when they made up 12.5% of board members at companies listed on the 100-share index. | Lord Davies said there had been a "steady and sustained increase" in the number of women serving on FTSE boards since 2011, when they made up 12.5% of board members at companies listed on the 100-share index. |
He cautioned against the introduction of legally enforced quotas to guarantee a female presence on boards, describing them as "unwarranted". | He cautioned against the introduction of legally enforced quotas to guarantee a female presence on boards, describing them as "unwarranted". |
On the Today Programme, Lord Davies was asked why 260 of the 286 women on the boards of FTSE 100 companies are non-executives. | |
"The focus of our work was on fixing the boardroom. We've done that and there's very few all-male boards left," Lord Davies he said. | |
"We now need to see the same change, through a voluntary approach, in the executive committee structure of big companies and small companies." | |
'Significant effort' | 'Significant effort' |
Lord Davies said in his latest report that the next five years should see "substantive and sustainable improvement in women's representation on boards of FTSE 350 companies". | |
"Following five years of significant effort on the part of the biggest FTSE boards, all FTSE-listed companies should be taking action," he added. | "Following five years of significant effort on the part of the biggest FTSE boards, all FTSE-listed companies should be taking action," he added. |
The government has already said it plans to bring in a target to include women on the boards of all the UK's top 350 companies. | The government has already said it plans to bring in a target to include women on the boards of all the UK's top 350 companies. |
This will come as part of a series of "equality-boosting measures" which it hopes to introduce in the first half of 2016. | This will come as part of a series of "equality-boosting measures" which it hopes to introduce in the first half of 2016. |