GOVERNANCE CONTINUED Getting women on Boards Women on Boards has been one of the most talked about issues over the last few months and this is almost certainly set to continue. However, the statistics for female representation at Board level indicate that very little has changed in this area since last year, with the number of companies with female representation at Board level remaining unchanged at 78%. However, of the total FTSE 100 Board positions available, women occupy only around 13% of the these. In fairness to those companies which showed no improvement, Lord Davies’ Review of Women on Boards was published some months after many companies in our sample group had produced their Annual Report and therefore it is perhaps more realistic to expect that we will see a greater change in 2011/12. This is particularly true when one considers the pace of change which Davies is expecting, a minimum of 25% female representation by 2015, a target which only 10% of FTSE 100 companies meet at present. The Review also recommended a number of additions to the disclosure regime, primarily in terms of items for inclusion within the corporate governance statement, which the Financial Reporting Council is currently consulting on, and we await the outcome. Figure 2.7 Figure 2.10 How many companies have female representation at Board level? What percentage of Boards do women comprise? 78% 78% • • • • • Figure 2.8 What is the breakdown of female executives on the Board? 2% 17% 81% 3% 13% 84% Two female executives One female executive No female executives Figure 2.9 What is the breakdown of female non-executives on the Board? 10% 18% 44% 7% 22% 46% Three female non-executives Two female non-executives One female non-executive 28% ’09 ’09 ’09 25% ’10 ’10 No female non-executives ’10 0 1 – 8% 9 – 16% 17 – 24% 25% or greater 22% 10% 37% 21% 10% Figure 2.11 Does the report state the level of female representation that the company is aiming for? 14% Figure 2.12 Outline of the company approach to ensure diversity in the nominations policy: 9% 12 © Black Sun Plc 2011 www.blacksunplc.com
