On 9 November 2016, the Hampton-Alexander Review
("Review") published a report on
improving the gender balance in the leadership of FTSE companies.
The Review builds on the work of the Davies Review for Women on
Boards, extending the scope to include FTSE 350 executive
committees and direct reports to such executive committees.
The report provides a progress update on women on boards as at 1
October 2016; after five years of excellent progress and the FTSE
100 achieving its 25% target six months ahead of schedule in 2015,
further progress has slowed in 2016.
The report contains a number of recommendations, including
FTSE 350 companies should aim for a minimum of 33% women's
representation on their boards by 2020. CEOs should have a clear
plan of action to tackle underrepresentation, and the chair of the
nominations committee should oversee progress.
FTSE 350 companies should voluntarily publish details of the
number of women on the executive committee and in the direct
reports to the executive committee on an annual basis and submit
this data to the Review.
The Financial Reporting Council
("FRC") should amend the UK Corporate
Governance Code to require FTSE 350 companies to disclose the
gender balance on their executive committee and in direct reports
to the executive committee in their annual report.
Institutional investors should have a transparent process for
evaluating the gender balance of FTSE 350 investee companies as
well as a clear voting policy.
The recent case of Dickinson v NAL Realisations (Staffordshire) Ltd is a "101" guide to how not to run a small business, providing insight into the pitfalls that can await any director or shareholder...
As the Brexit negotiations start, one direct impact is an interest from clients and advisers looking to have flexibility in their organisational structure ahead of any legislative or other changes being implemented.
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