Friday, 27 June 2014

The FTSE100 Makes History

The FTSE100 makes history today with the news that there are no remaining all-male boards in the UK's top companies, which is a considerable turnaround from where 1 in 5 were all male in 2011.

Glencore Xstrata's appointment of Patrice Merrin to their board has been welcomed by Vince Cable and comes as a result of efforts by Liberal Democrats and businesses to improve boardroom diversity in the UK.

Business Secretary Vince Cable said:
"This is a historic day for the FTSE and for the reforms I've been pushing for to ensure that there is more diversity in the talent running our biggest companies. 
"Huge progress has been made on this agenda since 2010 and from today every single top 100 company listed on the London stock exchange now counts a woman on their board. 
"This last appointment has been long in the making but I congratulate Glencore Xstrata today on hiring their first woman non-executive board director. 
"The case for change is clear - businesses with diversity at their top are more successful. British businesses have embraced this move for change and done so in a voluntary way, without recourse for legal targets. 
"Much more needs to be done of course to tackle diversity in the FTSE 250 and to fix the pipeline of women working their way up to the top of businesses to become the leaders of tomorrow. But for today, let us celebrate this important landmark achieved working hand in hand with business, not by imposing tokenistic targets, which other countries have favoured."