Corporates Racing to Meet Gender Diversity Targets for Women in Senior Executive Roles Ahead of Deadline Reveals LexisPSL Corporate Market Tracker
FTSE350 increases its overall percentage of women on boards, but in the run up to deadlines there is more work to do
LONDON, 16 July 2015 – LexisNexis UK (www.lexisnexis.co.uk), a leading provider of content and technology solutions, today announced publication of its latest Lexis®PSL Corporate Market Tracker report into gender diversity in the boardrooms of the UK’s biggest companies. Women on Boards - a mid-year update 2015 takes a comprehensive view of where the FTSE 350 are currently with targets set by the government Davies Report 2011. With less than six months until the Davies Steering Group deadline for achievement, the report finds a mixed picture across the world of business.
Lexis®PSL Corporate finds that between the publications of the annual Davies review in March 2015 and 10 June 2015, overall the FTSE 350 has seen a continued rise in representation of women on UK boards. The FTSE100 saw its overall percentage rise from 23.5 to 24.4, creeping towards the 25% target with 8 additional board appointments. The number of companies meeting the 25% target increased from 41 to 47. The FTSE 250 also increased overall from 18% to 19% with 77 companies already achieving 25% gender diversity. The number of all-male boards across the FTSE 250 has reduced from 23 to 19.
However, 33 of the 34 board appointments across the FTSE 350 between March and June were to non-executive roles. Eleanor Kelly, Solicitor, Lexis®PSL Corporate said: “Whilst FTSE 350 companies are continuing to improve gender balance on their boards, the figures showing low levels of appointments of women to executive director roles should set alarm bells ringing. The concern is that companies may have been paying lip service to the Davies recommendations by appointing women to part-time nonexecutive roles for the purpose of achieving nominal targets by 2015. True gender diversity won’t be achieved unless and until more women are involved in making the key day-to-day business decisions. Hopefully the Davies Steering Group will address this issue in their end of 2015 report and set some targets to help to get more women into executive director roles at FTSE 350 companies.”
FTSE 350 companies have until the end of 2015 to achieve the targets set by Lord Davies in his 2011 Report. An end of year report by the Davies Steering Group is anticipated in early 2016.
To download and read the full Market Tracker report, please go to www.lexisnexis.co.uk/womenonboards/july2015
About LexisNexis Legal & Professional
LexisNexis Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organisations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organisations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. LexisNexis Legal & Professional, which serves customers in more than 175 countries with 10,000 employees worldwide, is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
In the UK, LexisNexis (www.lexisnexis.co.uk) online legal solutions include: Lexis®PSL, Lexis®Draft, Lexis®Smart and Lexis®Library. Published resources include both Butterworths® and Tolley™.
T: +44 (0)20 7400 2977