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Increase in Women on Boards
Many of you will remember the Davies Report from 2010, which recommended an increase in the number of women on the board of directors of listed UK companies. One of the aims outlined in that report was for the FTSE 100 companies to have a minimum of 25% female board representation by 2015.
Statistics published on 9 October by the Department of Business, Innovation and Skills (“BIS”) has confirmed that FTSE 100 companies are on their way to meeting that aim. Amongst the FTSE 100 companies, women now account for 22.8% of board directorships (whereas back in 2011, it was only 12.5%). There are also no all-male boards now (whereas there were 21 in 2011).
There is obviously still some way to go in the next few months if the aims of the Davies Report are to be met – there would need to be a further 24 women appointed. However, as the Davies Report outlined, it is worthwhile for businesses to continue the pursuit of a more balanced boardroom as having a group of directors with a broad level of experience and skills from all backgrounds and lifestyles means that more rounded decisions should result.
This guide is for general information and interest only and should not be relied upon as providing specific legal advice. If you require any further information about the issues raised in this article please contact the author or call 020 7404 0606 and ask for your usual Goodman Derrick contact.