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FTSE350 companies in the UK are being pushed by Business Secretary Vince Cable and Lord Davies to increase the number of women in their boardrooms.
The pair have jointly written to the chairs of the FTSE350 stating, that with the deadline for Lord Davies' 25% target for FTSE100 companies ever nearing, they should press ahead with continued change.??
In 2011, the FTSE100 were set the ambition by Lord Davies and his Steering Group for women to account for 25% of FTSE100 boards by 2015. The latest figures for the FTSE100 show that this now stands at 20.4%, up from 12.5% in February 2011.
The FTSE250 have also been encouraged to increase female representation and aim for 25% of women on boards.??It is estimated only a further 60 new female board appointments will need to be made to reach the target for the FTSE100.??
Vince Cable and Lord Davies have asked FTSE350 chairs to aim to appoint one additional female director in the year ahead and consider giving two female candidates from senior management the opportunity to serve as a non-executive director at another company.
Business Secretary Vince Cable commented: ??"In the past few years we've made great progress in improving boardroom diversity and the momentum has turned. But the time for talking and listening is over - we now need to start seeing businesses acting on their words."??
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