FTSE350 companies have been challenged by Business Secretary Vince Cable and Lord Davies to increase the number of women in their boardrooms. The pair have jointly written to the Chairs of the FTSE350 stating, that with the deadline for Lord Davies’ 25% target for FTSE100 companies ever nearing, they should use 3 targeted initiatives this year to help press ahead with continued change, i.e. (i) aim to appoint 1 additional female director in the year ahead; (ii) consider giving 2 female candidates from senior management the opportunity to serve as a non-executive director at another company; and (iii) state clear targets for the number of women at senior management and board level and what steps they are taking to achieve those targets. In FTSE100 companies latest figures show that 20.4% of directors are women, up from 12.5% three years ago and in FTSE250 companies 15.1% directors are women up from 7.8%.
Following this ‘challenge’, the Equality and Human Rights Commission has announced that it will be looking at the under-representation of women on boards later this year. This project builds on a previous Commission report which found that the appointment of women to FTSE 350-listed non-executive director roles is being held back by selection processes which favour candidates with similar characteristics to existing male-dominated board members.
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This provides summary information and comment on the subject areas covered. Where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented and the judgments made in every aspect of the case. Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, we cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.
