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| A third of boardroom positions should be held by women, UK firms told | A third of boardroom positions should be held by women, UK firms told |
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| At least a third of boardroom positions at Britain’s biggest companies should be held by women by the end of the decade, according to a report, although it does not recommend that quotas are imposed. | At least a third of boardroom positions at Britain’s biggest companies should be held by women by the end of the decade, according to a report, although it does not recommend that quotas are imposed. |
| The government-backed report from Lord Mervyn Davies, who has been championing gender equality in the boardroom, shows that FTSE 100 companies have exceeded the target of having 25% women on their boards – more than doubling the number in 2011 when the target was set. Then, just 135 of 1,076 (12.5%) FTSE 100 directorships were held by women. | The government-backed report from Lord Mervyn Davies, who has been championing gender equality in the boardroom, shows that FTSE 100 companies have exceeded the target of having 25% women on their boards – more than doubling the number in 2011 when the target was set. Then, just 135 of 1,076 (12.5%) FTSE 100 directorships were held by women. |
| There are more women on FTSE 350 boards than ever before – 26.1% at FTSE 100 companies and 19.6% at FTSE 250 firms. The report says there has also been a dramatic reduction in the number of all-male boards. There were 152 in 2011, but there are currently no all-male boards in the FTSE 100 and only 15 in the FTSE 250, compared with 131 four years ago. | There are more women on FTSE 350 boards than ever before – 26.1% at FTSE 100 companies and 19.6% at FTSE 250 firms. The report says there has also been a dramatic reduction in the number of all-male boards. There were 152 in 2011, but there are currently no all-male boards in the FTSE 100 and only 15 in the FTSE 250, compared with 131 four years ago. |
| Davies hailed the “near revolution which has taken place in the boardroom and profound culture change at the heart of British business”. The former trade minister and chairman of Standard Chartered bank has set a new target of 33% female board members by 2020 and widened the scope to all FTSE 350 firms. But he says the introduction of legally enforced quotas is unwarranted as the progress so far proves that the voluntary approach is working. | Davies hailed the “near revolution which has taken place in the boardroom and profound culture change at the heart of British business”. The former trade minister and chairman of Standard Chartered bank has set a new target of 33% female board members by 2020 and widened the scope to all FTSE 350 firms. But he says the introduction of legally enforced quotas is unwarranted as the progress so far proves that the voluntary approach is working. |
| “There is no evidence to warrant an about turn, but plenty of evidence to show the voluntary regime is working, as each and every month the percentage of women on FTSE boards increases,” the report says. | “There is no evidence to warrant an about turn, but plenty of evidence to show the voluntary regime is working, as each and every month the percentage of women on FTSE boards increases,” the report says. |
| Related: Companies with women on the board perform better, report finds | Related: Companies with women on the board perform better, report finds |
| The UK ranks sixth in Europe behind Norway, Sweden, France, Finland and Belgium, many of which – including Norway, where women make up 35% of boards – have set formal quotas for female representation. | |
| Nora Senior, president of the British Chambers of Commerce, said there was no need for “overbearing government regulation”. She added: “Gender discrimination has no place in the workplace in 21st-century Britain … We should not lose sight of the fact that business still needs to step up to the task of nurturing the pipeline of women at middle management level onto executive teams. More work remains to be done on internal appointments as well as external to ensure that female talent can rise to the very top.” | Nora Senior, president of the British Chambers of Commerce, said there was no need for “overbearing government regulation”. She added: “Gender discrimination has no place in the workplace in 21st-century Britain … We should not lose sight of the fact that business still needs to step up to the task of nurturing the pipeline of women at middle management level onto executive teams. More work remains to be done on internal appointments as well as external to ensure that female talent can rise to the very top.” |
| While British companies have been appointing more female directors, they have been slower to promote women into the top jobs – the chief executive, chief finance officer and chairmanship roles. Most female directors hold non-executive roles. Research by the Guardian conducted this year showed there were more men called John running FTSE 100 companies than all the female bosses combined. | While British companies have been appointing more female directors, they have been slower to promote women into the top jobs – the chief executive, chief finance officer and chairmanship roles. Most female directors hold non-executive roles. Research by the Guardian conducted this year showed there were more men called John running FTSE 100 companies than all the female bosses combined. |
| At FTSE 100 companies, consumer goods group Unilever is leading the way after doubling the number of women on its board to 50% since 2011 – the only company to achieve gender parity. | At FTSE 100 companies, consumer goods group Unilever is leading the way after doubling the number of women on its board to 50% since 2011 – the only company to achieve gender parity. |
| At Marks & Spencer, female board representation has risen to 41.7%, from 27.3% four years ago. Drinks giant Diageo has boosted the number of women on its board to 40% from 36.4%. At drugmaker AstraZeneca, as well as Sainsbury’s, the proportion has risen to 33.3% from 27.3%. British American Tobacco has increased female board representation to 30.8% from 25%; insurer Standard Life has seen a rise to 30% from 27.3%. | At Marks & Spencer, female board representation has risen to 41.7%, from 27.3% four years ago. Drinks giant Diageo has boosted the number of women on its board to 40% from 36.4%. At drugmaker AstraZeneca, as well as Sainsbury’s, the proportion has risen to 33.3% from 27.3%. British American Tobacco has increased female board representation to 30.8% from 25%; insurer Standard Life has seen a rise to 30% from 27.3%. |
| New research from Audeliss suggests Britain’s boardrooms risk going into reverse gear over the next 18 months, as the terms of current female non-executive directors expire. The executive search firm warns that because there are too few female executives in the pipeline to replace them, it is likely that the percentage of female non-executive directors on boards will fall from 31% to 26%. | New research from Audeliss suggests Britain’s boardrooms risk going into reverse gear over the next 18 months, as the terms of current female non-executive directors expire. The executive search firm warns that because there are too few female executives in the pipeline to replace them, it is likely that the percentage of female non-executive directors on boards will fall from 31% to 26%. |