Good News for Women & Boards (good news for shareholders too)
More women on boards is good news for all of us.
The latest figures to be released show that there is something to be pleased about when it comes to gender equality. There is improvement!
An annual benchmarking report from Cranfield University School of Management, said 41 firms in the FTSE 100 and 65 in the FTSE 250 had now met the 25% target.
Drinks firm Diageo and Intercontinental Hotels Group jointly topped the Cranfield ranking, with 45% female representation on their boards.
Lord Davies, the former trade minister, said women now accounted for 23.5% of FTSE 100 board members, up from 12.5% in 2011. The increase means that companies are on track to meet his 25% target for 2015.
“The voluntary approach is working – boards are getting fixed,” Said Lord Davies.
The government report found that there were now 263 female directors in FTSE 100 companies, meaning a further 17 women need to be appointed this year to meet the 25% target.
However, Dr Elena Doldor, co-author of the Cranfield report, said she expected women’s representation on boards to stagnate at about 28%.
“There are still not enough women on executive committees or in the executive pipeline. Introducing aspirational and measurable targets for women at all levels is the only way to achieve real progress,”
Nonetheless, let’s celebrate the good news and hope that smaller companies begin to follow suit. The challenge for business is to bring sufficient women into the seniority pipeline or else we will truly stagnant. May I suggest they take a look at RenewYou Means Business? Designed to do just that, at every level in an organisation. You can bring in one of our trainers or get licensed yourself. Click here for more information.