Diversity and women on boards

The UK Government is keen to see more diverse boards and the issue of women on boards is one that has been considered both in the UK context and at European level. In February 2011, Lord Davies of Abersoch set a number of targets for boards of FTSE 350 companies, including that FTSE 100 boards should aim to have a minimum of 25 percent female representation by 2015. With that target largely achieved, the Hampton-Alexander Review, looked to increase female representation at the executive level of FTSE 350 companies. It recommended a voluntary target of a minimum of 33 percent women's representation on FTSE 350 boards by 2020 and also recommended that FTSE 100 companies should aim for a minimum of 33 percent women's representation across their executive committee and direct reports to the executive committee by 2020. In addition, the Parker Review Committee has recommended that each FTSE 100 board should have at least one director of color by 2021, and that FTSE 250 boards should meet this requirement by 2024.

Lord Davies’ reports

• Lord Davies’ five year summary “Women on Boards” – October 2015
• Lord Davies’ fourth annual progress report “Women on boards” – March 2015
• Lord Davies’ third annual progress report “Women on boards” – March 2014
• Lord Davies’ second annual progress report “Women on boards” – April 2013
• Lord Davies’ first annual progress report “Women on boards” – March 2012
• Lord Davies’ report “Women on boards” – February 2011

Changes to UK Corporate Governance Code

• FRC Feedback Statement: Gender diversity on boards - October 2011
• FRC Consultation on gender diversity on boards - May 2011

Other reports/developments

• Parker Review: FAQs on the extension of scope to encompass senior management announced in the March 2023 Report in preparation for reporting in December 2024 (Guidance) – July 2024
• Parker Review: Improving the Ethnic Diversity of UK Business – Update report – March 2024
• FTSE Women Leaders Review – Achieving Gender Balance – March 2024
• Parker Review: Improving the ethnic diversity of UK business – An update report – March 2023
• HM Treasury: Women in Finance Charter – Annual Review 2022 – March 2023
• FTSE Women Leaders Review – Achieving Gender Balance – February 2023
• FRC: Navigating barriers to senior leadership for people from minority ethnic groups in FTSE 100 and FTSE 250 companies – September 2022

• 30% Club Investor Group UK:  Reporting on Diversity - A guidance toolkit for companies by investors – May 2022
• FCA: Diversity and inclusion on company boards and executive management (PS22/3) – April 2022
• BEIS: Ministers renew efforts to increase opportunities for talented women at the top of UK business - November 2021
• Cranfield University: The Female FTSE Board Report 2021 – October 2021
• FCA consultation: Diversity and inclusion on company boards and executive committees – July 2021
• FRC: Board diversity and effectiveness in FTSE 350 companies – July 2021
• Institute of Board Ethics (IBE): The Ethics of Diversity – April 2021
• Parker Review – Survey of ethnic diversity of FTSE 100 companies – March 2021
• Hampton-Alexander Review - Improving gender balance – 5 year summary report – February 2021
• ICSA: Review of the effectiveness of independent board evaluation in the UK listed sector – January 2021
• Investment Association: Investors call for greater transparency on ethnic diversity on boards – October 2020
• BEIS: Women make up more than a third of all board members across FTSE 350 for first time – October 2020
• Parker Review Update Report: Ethnic diversity enriching business leadership – February 2020
• ICSA Terms of reference for the nomination committee – January 2020
• Hampton-Alexander Review: Improving gender balance in FTSE leadership – November 2019
• Cranfield University - Female FTSE Board Report – Moving Beyond the Numbers – July 2019
• Hampton-Alexander Review – FTSE 350 urged to keep up the pace to meet women on boards target – July 2019
• Investment Association and Hampton-Alexander Review: Gender diversity in FTSE 350 companies – March 2019
• Hampton-Alexander Review – Improving gender balance in FTSE leadership – November 2018
• FRC Board Diversity Reporting – September 2018
• Hampton-Alexander Review "one year on" report – November 2017
• The Parker Review Committee Final Report into the Ethnic Diversity of UK Boards – October 2017
• Race in the workplace: The McGregor-Smith review – February 2017
• Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 – December 2016
• Hampton-Alexander Review FTSE Women Leaders: Improving gender balance in FTSE Leadership – November 2016
• The Parker Review Committee A Report Into the Ethnic Diversity of UK Boards – October 2016
• ICGN Guidance on Diversity on Boards – October 2016
• BEIS Select Committee Announcement of Corporate Governance – September 2016
• HM Treasury 72 firms sign up to new Charter to link City bonuses to the appointment of senior women – July 2016
• Government Equalities Office New review on women in senior leadership and new leader of the Women’s Business Council – July 2016
• FRC Feedback Statement: UK Board Succession Planning Discussion Paper – May 2016
• ICSA/EY The Nomination Committee - Coming Out of the Shadows – May 2016
• HM Treasury Empowering productivity – Harnessing the talents of women in financial services – March 2016
• HM Treasury Women in Finance Charter – March 2016
• Equality and Human Rights Commission Inquiry into fairness, transparency and diversity in FTSE 350 board appointments – March 2016
• Equality and Human Rights Commission Guide to good practice on improving board diversity – March 2016
• BIS Chair and deputy chair appointed to new women on boards review – February 2016
• BIS Most improved FTSE100 companies appointing women to their boards – February 2015
• European Commission Factsheet on gender balance on corporate boards – January 2015
• BIS Where are we now: FTSE100 – October 2014
• Equality and Human Rights Commission Notice of an inquiry into the recruitment and appointment of directors on the boards of FTSE 350 companies – July 2014
• Equality and Human Rights Commission Guidance on appointments to boards and equality law – July 2014
• BIS Women on boards: FTSE100 milestone reached – June 2014
• ICAEW Dialogues in corporate governance: Diversity and boards – April 2014

Recruitment firms’ code of conduct

• Remuneration Consultants Group Biennial review of the Code of Conduct and the annual review of its effectiveness and implementation – January 2016
• Government launches an enhanced code of conduct for executive search firms – July 2014
• BIS Women on Boards - Voluntary Code for Executive Search Firms: Taking the Next Step – March 2014
• Government announces review of the Voluntary Code of Conduct used by executive search firms – September 2013
• Executive search firms’ Voluntary Code of Conduct – July 2011