UK pushes for women on company boards
Women should make up at least 25% of the boards of the largest British companies by 2015, a report by the government recommended on Thursday.business Updated: Feb 25, 2011 22:54 IST
Women should make up at least 25% of the boards of the largest British companies by 2015, a report by the government recommended on Thursday.
The report stopped short of suggesting that Britain follow other European countries, including France, Spain and Norway, in introducing compulsory quotas. But it seeks to increase the pressure on British companies to improve gender equality by asking companies to be more transparent about the gender balance in top positions.
Under the guidelines, the companies would have to announce to shareholders by September their goals for placing women on their boards, and state clearly how they plan to do so.
They also should regularly report the number of female board members and of women in senior positions, the report said. The recommendations were backed by the government.
“Radical change is needed in the mind-set of the business community if we are to implement the scale of change that is needed,” said Mervyn Davies, author of the report.
“This is not about aiming for a specific figure but it is about improving business performance.”