WoB: Most improved FTSE 100 boards
Business must keep up the momentum for representation of women on their boards, according to Business Secretary Vince Cable, as he revealed the top 10 most improved companies. The results were revealed yesterday (4 February 2015) at an event co-hosted with Lord Davies of Abersoch at Barclays, Canary Wharf. The event provided FTSE chairs with the opportunity to network with a number of aspiring non-executive women, showcasing the extensive talent pool of capable women available to take up boardroom positions.
A new ‘Inspirational Women in Business’ report has also been published alongside the candidates’ event. The report highlights a number of inspiring business women at different stages in their careers and their views on leadership, and provides advice and guidance to those women aspiring to senior business positions.
The top 10 most improved FTSE 100 boards between 2010 and October 2014:
| Female representation | Female representation | |
|---|---|---|
| In 2010 | In 2014 | |
| Old Mutual | 0.0% | 38.5% |
| Aggreko | 0.0% | 30.0% |
| Glaxosmithkline | 7.7% | 35.7% |
| Wolseley | 0.0% | 27.30% |
| Land Securities Group | 8.3% | 33.3% |
| Associated British Foods | 0.0% | 22.2% |
| Capita | 22.2% | 44.4% |
| Petrofac | 0.0% | 22.2% |
| Weir Group | 0.0% | 22.2% |
| HSBC | 16.7% | 37.5% |
Business Secretary Vince Cable said yesterday: "Seeing the enormous progress made by these 10 top FTSE 100 companies demonstrates that the UK’s voluntary, business-led approach is working. Our target of 25% women on boards by 2015 is in sight. However, the threat of EU mandatory targets remains a reality if we do not meet it.~
"Businesses must not take their foot off the pedal during the final stretch - if we are to avoid action from Brussels we must continue to demonstrate that our voluntary approach is the right one and is working."
"I congratulate those FTSE chairs here today and those that have taken action to promote talented women, like those featured in our case study report published today. British businesses must keep up the momentum and alarm bells should be ringing in the ears of those FTSE chairs who are not yet doing their bit to improve gender diversity."
Lord Davies of Abersoch said: "I have never doubted that the UK has plenty of talented senior women, capable and willing to serve on FTSE boards."
"In 2011, British business said they could fix this problem on their own and I am delighted we are now seeing evidence of this, with more women being picked to serve on the boards of Britain’s biggest companies."
"However the job is not yet done. Strengthening the executive talent pipeline remains the next and longer term challenge.
