Report calls for more women in leadership roles
The Hampton-Alexander Review has published a report on improving the gender balance in the leadership of FTSE companies. The Review builds on the work of the Davies Review in increasing the number of women on FTSE boards and extends its scope to include executive committees and direct reports to the executive committees of FTSE 350 companies. The report provides a progress report on women on boards of the FTSE 350 as at 1 October 2016.
The report contains a number of recommendations, including that:
- FTSE 350 companies should aim for a minimum of 33% women's representation on their boards by 2020.
- FTSE 100 companies should aim for a minimum of 33% women's representation across their executive committee and in the direct reports to the executive committees by 2020.
- FTSE 350 companies should voluntarily publish details of the number of women on the executive committee and in the direct reports to the executive committee on an annual basis in their annual reports or on a website and submit this data to the Review.
- The FRC should amend the UK Corporate Governance Code to require FTSE 350 companies to disclose the gender balance on their executive committee and in direct reports to the executive committee in their annual report.
There are also recommendations for institutional investors to evaluate the gender balance of FTSE 350 investee companies and develop related voting policies.
Click here for the report.