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Dr Ruth Sealy Cranfield School of Management The UK’s “Voluntary Business-led approach” to women on boards Women Economic Engagement, Dublin, April 29-30.

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Presentation on theme: "Dr Ruth Sealy Cranfield School of Management The UK’s “Voluntary Business-led approach” to women on boards Women Economic Engagement, Dublin, April 29-30."— Presentation transcript:

1 Dr Ruth Sealy Cranfield School of Management The UK’s “Voluntary Business-led approach” to women on boards Women Economic Engagement, Dublin, April

2 Lord Mervyn Davies: ex-trade minister, ex- Chairman of Standard Chartered Bank Extensive consultation meetings Online submissions Online survey 2,600+ responses Report March major recommendations Results by 2015 or quota threat The Davies Review and Report

3 Female FTSE Index 2010 – 2013 Female FTSE 100October 2010 March 2012 Sept 2012 March 2013 Female held directorships 135 (12.5%) 163 (15.0%) 191 (17.4%) 194 (17.3%) Female executive directorships 18 (5.5%) 20 (6.6%) 21 (6.7%) 19 (6.1%) Female Non-Executive Directorships 117 (15.6%) 143 (18.3%) 170 (21.7%) 176 (21.8%)

4 Women on Boards 2013 No. of All Male Boards DateNo of Boards with Women 21 March March March

5 Female FTSE Sept 2011 (6 mth) Mar 2012 (6 mth) Sept 2012 (6 mth) Mar 2013 (6 mth) New female appointments New male appointments Total new appointments Female % of new appointments 13.3%22.50%26.7%44.1%25.8% Percentage of Directorships going to Women

6 Predicting percentages of WoB

7 FTSE 100 New Female Appointments Experience

8 FTSE 250…Catching up FTSE 250 Companies Female-held directorships 189 (9.4%) 267 (13.3%) Female executive directorships28 (4.6%)32 (5.4%) Female non-executive directorships 168 (11.4%) 235 (16.6%) Companies with at least one female director 135 (54%)183 (73%) Companies with multiple female directors 47 (18.8%)68 (27%)

9 FTSE 100 Female Executives YearExecutive Committee Member Executive Board Directors (16.3%)13 (3.6%) (13.0%)17 (4.8%) (18.1%)17 (5.2%) (17.2%)18 (5.5%) (15.3%)18 (5.8%)

10 Individuals Internally Promoted to Executive Committee 48% Female 62% Male

11 EU Directive could affect up to 950 UK companies A turnover of more than €50million and/or more than 250 employees 433 Additional Listed CompaniesNumber of WoBPercentage WoB Female-held directorships2157.6% Female executive directorships 605.2% Female non-executive directorships % Average board size6.5

12 Challenges  Principles, not rules: “Comply or Explain”  No sanctions  Driven by the voluntary actions of the Davies Steering Committee  Driven by media coverage and peer pressure – less so for FTSE 250  Driven by the threat of legislative intervention

13 The Partnership Approach  Business: Chairmen, Heads of Diversity, Senior Women  Government: Equalities and Business, at the highest levels  Media – generous with time and information, lengthy conversations, changed the way the issue is reported. Has played a substantial part in moving debate forward.  Academia – we monitor and report constantly!


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