Commenting on Lord Davies’ annual report which shows that female representation on the boards of FTSE 100 companies has nearly doubled in four years to 23.5 per cent, Lisa Buckingham, the IoD’s Senior Diversity Adviser said:
“We welcome the progress made in increasing the representation of women on company boards. Diversity boosts performance, helps counter groupthink and ensures companies have access to the widest possible array of talent. It is particularly encouraging to see that more than forty FTSE 100 companies have already met – or exceeded – the 25 per cent target.
“Changing corporate culture, practices and behaviour is no small feat and meaningful change requires a coalition of support. Company boards, senior executives, employees, the wider public, appointment committees and recruiters, especially, all have a role to play. They have made an impressive start, but there is still work to do.
“On current trends, the 25 per cent target looks set to be reached this year. But this is far from the end of the debate. We need to focus on establishing the talent pipeline to increase the number of women in executive and senior management roles.
“We should also remember that diversity does not end with gender. Companies need to be looking at how to recruit form a much wider talent pool, making sure their boards represent people across a range of factors such as age, ethnicity and social background. The business case for action is clear. Building on the progress already made on gender representation is fundamental to shaking up boardrooms for the better.”