Thursday, 22 May 2014

More Women Than Ever On Top Company Boards

New figures highlighted by Business Secretary Vince Cable show that 99% of FTSE 100 companies now have at least one female director on their boards, which is a considerable turnaround from where 1 in 5 were all male in 2011.

The Liberal Democrats have worked to promote gender equality on the boards of listed companies, setting the target to have 25% of women on boards by 2015. To help with this, Vince Cable has commissioned an independent review into the 'code of conduct' signed by headhunters to help increase diversity at the top.

Latest figures show that women now account for 21% of total directorships, increasing from 12% in 2010.

Speaking on Woman's Hour, Vince Cable said:

"When we started this whole process of trying to get British boards more representative of the population, we had 21 companies without a woman on the board. We're now down to this last one."

Vince commented on the last FTSE 100 company that still has an all-male board:

"I specifically met the chief executive to discuss its performance on this issue. It has consistently failed to act. The vast majority of Britain's top companies have got the message that a diverse top management team is good for business - it is simply not credible that one company cannot find any suitable women. I will be speaking with their incoming chairman Tony Hayward and will raise this as a matter of priority."