Board diversity still not adequate |
Writing in City AM, Julia Streets, founder and host of the DiverCity podcast, says too many firms are still falling short when it comes to board diversity. Founder and CEO of Women on Boards UK, Fiona Hathorn, and Margaret Franklin, the president and CEO of the CFA Institute, joined the DiverCity podcast recently to discuss diversity at board level in financial services. Ms Hathorn points out that, while government and regulators have been busy concentrating on the FTSE 350, the FTSE All-Share, containing the 600 largest UK-listed companies, is falling behind. “What we found was quite shocking, because nobody’s been measuring and managing these companies,” she says. In the FTSE 350, 29% of executive teams are women, she adds, while in the FTSE All-Share that falls to just 18% – “which is very, very poor.” Ms Franklin comments: “We have to really go at what are the exclusion habits, processes and systems that exclude others from advancing. Because the higher you go in a decision-making framework, the more necessary diverse voices, experiences and perspectives become.”