The female FTSE Board Report 2015 – Putting the UK progress into global perspective.
On the 25th of March, Christine de Largy, Managing Director at Impact Executives and Chair of the UK Board Practice for Harvey Nash group, attended the female FTSE Board Report 2015 – Putting the UK progress into global perspective sponsored by Barclays Bank Plc featuring research by Cranfield international centre for women leaders.
Speaker Rt Hon Dr Vince Cable, MP – Introduced by Sir David Walker, Chair at Barclays Bank
- There are 23.5% women on FTSE 100 boards and it will take only 23 more appointments to reach 25%. Ftse 250 is not at same level but there has been great progress.
- This is a work in progress and a realistic intermediate objective by the end of the decade should see to 30%, which is widely recognised as a tipping point.
- The government has tried to reduce cultural obstacles around logistics with parental leave. In his own department, a couple of women are job sharing and are absolutely on top of the job, working seamlessly together.
- Cable has always argued against quotas as has felt it may devalue women’s achievements.
Rt Hon Nicky Morgan, MP – Education secretary and minister for women and equalities.
- The cry for deeds and not words, this is what the suffragettes protested for.
- The gender pay gap still exists so encouraging girls into STEM subjects remains high importance.
- Great progress has been made and pay gaps between people under the age of 40 has almost been eliminated.
- Gender pay information will be mandatory to report in businesses employing over 250 staff.
- In the long term we should be more ambitious. We should just be talking about leaders as female leaders and those discussions should be prefaced by their talent not gender.
Professor Susan Vinnicombe CBE, Canfield University.
- Companies with at least 25% female directors.41% of ftse 100 companies have 25% women on boards
- 26% of the ftse 250 have 26% women on boards
- Sector is not a barrier: Diageo has 25% women on boards but Coca Cola and SABMiller do not. Old Mutual has 25% but then Aviva does not. Unilever has the same but again, Associated British foods do not.
- UK is 5th highest in Europe and the world, as list of top countries around the world all fall within Europe.
- Key issues going forward.
- Agile working: we need more acceptance and practice. This is not about the ‘mummy trap’ but genuine acceptance of flexibility in the work place.
- Promotion process, requirements and outcomes need to be more transparent.
- More transparency on appointment to the board from nomination committee and executive search.
- Composition and dynamics of the board. A view that female appointments are in the same profile as men e.g. finance.
- Few female Senior Independent Director’s and Chairs which needs to change.
The focus now needs to be not on the Chairs but on the CEO to build the pipeline of talent. If they do not have a fair representation of women on the executive board they are not doing a good job. The forces of inertia are great and have to keep up the focus.
But at the same time we need to look at society as a whole. At schools it is predictable that the first child to ask a question of Nicky Morgan, is from a boy. We must change the way girls are socialised as they grow up.
Having men champion this initiative is vital as it will help make this a main stream issue, not a women’s issue.
Christine de Largy, Managing Director of Impact Executives, experts in interim management, is passionate about the digital transformation of consumer businesses. She hosts a retail forum to facilitate debate around the issues retail businesses today face and also sits on the management and advisory boards of IORMA, the International Omni-channel Retail Markets Association.
About Impact Executives Ltd Impact Executives is a leading interim management provider to organisations of every size in the UK and internationally. Originally formed as a specialist practice within PA Consulting Group, over the past 25 years Impact Executives has helped over 2000 companies, including more than two-thirds of the FTSE 250 – find the very best executive interim management talent.
Clients choose to work in partnership with Impact Executives because of our proven ability to offer immediate solutions to improve their organisation’s performance through identifying skills-gaps, business process reengineering (BPR), turnaround, restructure and growth.
With offices covering the UK, the Nordics, Europe, Asia Pacific and North America, Impact Executives is part of the global recruitment specialist Harvey Nash Group plc. Over the past 20 years we have given clients and interim managers the confidence that we have the resources, expertise and focus to deliver results – fast.
For further information on Impact Executives, please contact Steffany Young, Impact Executives, Tel: 0044 20 7314 2011 Email: firstname.lastname@example.org