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Drive to appoint more women to boardroom failing, study shows Drive to appoint more women to boardroom failing, study shows
(6 months later)
Lord Davies has insisted that corporate Britain is "stepping up and responding" to his call three years ago for more women to be appointed to boardroom roles, despite growing evidence that progress towards a more equitable gender balance has slowed.Lord Davies has insisted that corporate Britain is "stepping up and responding" to his call three years ago for more women to be appointed to boardroom roles, despite growing evidence that progress towards a more equitable gender balance has slowed.
For the last six months the percentage of female directors appointed to FTSE 100 and FTSE 250 boards has slipped to 26% and 29% respectively, according the latest report from the Cranfield International Centre for Women Leaders. This is well short of the 33% required to reach Davies's target of a quarter of board posts being filled by women by 2015. It is also a marked slowdown on rates seen for the preceding six months – 44% and 36% for FTSE 100 and FTSE 250 companies respectively.For the last six months the percentage of female directors appointed to FTSE 100 and FTSE 250 boards has slipped to 26% and 29% respectively, according the latest report from the Cranfield International Centre for Women Leaders. This is well short of the 33% required to reach Davies's target of a quarter of board posts being filled by women by 2015. It is also a marked slowdown on rates seen for the preceding six months – 44% and 36% for FTSE 100 and FTSE 250 companies respectively.
"Lord Davies's target for FTSE 100 companies is still in sight but only if the rate of new appointments going to women regains momentum promptly," warned Ruth Sealy, co-author of the Cranfield report. Only one in four of the stock market's largest firms have so far met the target. The percentage of women on FTSE 100 boards jumped from 10.5% in 2010 to 15.6% in March last year, but had grown to just 17.3% by last month – again suggesting the pace of change was slowing."Lord Davies's target for FTSE 100 companies is still in sight but only if the rate of new appointments going to women regains momentum promptly," warned Ruth Sealy, co-author of the Cranfield report. Only one in four of the stock market's largest firms have so far met the target. The percentage of women on FTSE 100 boards jumped from 10.5% in 2010 to 15.6% in March last year, but had grown to just 17.3% by last month – again suggesting the pace of change was slowing.
Despite concern in some quarters, however, former Standard Chartered chairman Lord Davies, who separately publishes his progress report on Wednesday, is expected to play down the significance of six monthly statistics, emphasising: "We've come a long way over the past two years … I am pleased to say that the evidence clearly shows that [businesses] have, and are, responding."Despite concern in some quarters, however, former Standard Chartered chairman Lord Davies, who separately publishes his progress report on Wednesday, is expected to play down the significance of six monthly statistics, emphasising: "We've come a long way over the past two years … I am pleased to say that the evidence clearly shows that [businesses] have, and are, responding."
Business secretary Vince Cable conceded "momentum appears to be slowing" and suggested the latest updates from Cranfield and Davies would serve as a "timely reminder to business that quotas are still a real possibility if we do not meet the 25% target of women on boards of FTSE 100 companies by 2015".Business secretary Vince Cable conceded "momentum appears to be slowing" and suggested the latest updates from Cranfield and Davies would serve as a "timely reminder to business that quotas are still a real possibility if we do not meet the 25% target of women on boards of FTSE 100 companies by 2015".
CBI president Sir Roger Carr insisted employers were alive to concerns about a slowdown in momentum. "These figures show if we are to remove blockages in the pipeline of female talent development, business leaders must roll up their sleeves and redouble their efforts to improve recruitment, mentoring and succession planning." He also reiterated his opposition to proposals from Brussels for a quota system, insisting such measures would "do nothing to address the root causes of this issue".CBI president Sir Roger Carr insisted employers were alive to concerns about a slowdown in momentum. "These figures show if we are to remove blockages in the pipeline of female talent development, business leaders must roll up their sleeves and redouble their efforts to improve recruitment, mentoring and succession planning." He also reiterated his opposition to proposals from Brussels for a quota system, insisting such measures would "do nothing to address the root causes of this issue".
The Cranfield report also showed how progress was quickest among directors holding non-executive, part-time roles. Women hold more than one in five (21.8%) of non-executive FTSE 100 posts but still only account for little over one in 17 (5.8%) executive roles. That means there are just 18 women executive directors in Britain's top boardrooms, against 292 men. Perhaps more alarming still, the Cranfield study found, among the broader top management tier at FTSE 100 firms – the key decision-making groups, known as executive committee members – the representation of women had fallen dramatically, down from 18.1% in 2009 to 15.3% today.The Cranfield report also showed how progress was quickest among directors holding non-executive, part-time roles. Women hold more than one in five (21.8%) of non-executive FTSE 100 posts but still only account for little over one in 17 (5.8%) executive roles. That means there are just 18 women executive directors in Britain's top boardrooms, against 292 men. Perhaps more alarming still, the Cranfield study found, among the broader top management tier at FTSE 100 firms – the key decision-making groups, known as executive committee members – the representation of women had fallen dramatically, down from 18.1% in 2009 to 15.3% today.
Susan Vinnicombe, co-author of the Cranfield report, suggested this shrinking pool of top-flight women managers made it harder for progress to be made with chief executive and finance director appointments. "Despite women dominating the fields of human resources, law and marketing … [executive positions in the boardroom] are still going to men, who are being promoted internally over experienced female candidates."Susan Vinnicombe, co-author of the Cranfield report, suggested this shrinking pool of top-flight women managers made it harder for progress to be made with chief executive and finance director appointments. "Despite women dominating the fields of human resources, law and marketing … [executive positions in the boardroom] are still going to men, who are being promoted internally over experienced female candidates."
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