Diversity in the boardroom
Diversity in the boardroom

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Diversity in the boardroom
  • UK Corporate Governance Code
  • FRC Guidance for nomination committees
  • Disclosure Guidance and Transparency Rules
  • Strategic report
  • Davies review into women on boards
  • Hampton-Alexander review into FTSE women leaders
  • Parker review into ethnic diversity of UK boards
  • Change the Race Ratio campaign
  • Investor guidance
  • More...

Since the report on the recommendations of the government-backed review by Lord Davies of Abersoch of gender diversity on listed company boards was released in February 2011, the topic of female board representation has rarely left the headlines. The purpose of the review was to identify barriers preventing more women from reaching the boardroom, and to make recommendations regarding actions government and business could take to increase the proportion of women on boards.

In 2017, the government-backed Parker Review, led by Sir John Parker, explored ethnic diversity of UK boards and found that directors from 'people of colour' (which the report defined as meaning individuals with evident heritage from African, Asian, Middle Eastern and South American regions) were vastly under-represented on the boards of the UK’s leading companies. The report outlined the business reasons for increasing ethnic diversity on boards and set a target of an end to ‘all-white’ boards by 2021 for FTSE 100 companies and 2024 for FTSE 250 companies.

This Practice Note summarises the corporate governance regime in relation to board diversity, including the requirements under the Disclosure Guidance and Transparency Rules (DTRs), the UK Corporate Governance Code (UKCG Code), guidance issued by the Financial Reporting Council (FRC) and the best practice guidelines of institutional investor bodies.

UK Corporate Governance Code

In July 2018, the FRC published a revised version of the UKCG Code,

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