Tuesday, 1 July 2014

Vince Cable launches enhanced code for executive recruiters

Liberal Democrat Business Secretary Vince Cable has today welcomed the launch of an Enhanced Code of Conduct for executive search firms to support more women appointments to FTSE 350 boards. 

More than 70 firms signed up to the original voluntary code of conduct launched in 2011. Responding to the independent Sweeny review in February 2014, the search industry has developed a new enhanced code to recognise those firms driving progress.

The new Enhanced Voluntary Code of conduct for Executive Search Firms gives recognition to those firms who have been most successful in the recruitment of women to FTSE 350 boards. It recognises the outstanding efforts of search firms working to build the pipeline of FTSE board directors of the future.

Commenting, Vince Cable said:
“Executive Search firms are crucial to achieving gender diversity in both executive and non-executive roles. 
“Recruiters can best show their commitment to this work by embracing this new enhanced code”. 
“Now that all FTSE 100 boards have at least one woman serving on them, and all key stakeholders have embraced the gender diversity agenda, we are confident that with sustained and continued action, we will meet the target of 25% women on FTSE 100 boards by 2015. 
“I am looking forward to finding out which firms have passed the higher standard set by industry”.