In November last year, the Women on Boards Davies Review ended its five year term, reporting that the target of 25% of women directors in the FTSE 100 had been met whilst at the same time recognising that work is still needed to maintain progress. The Review decided to continue the voluntary approach for a further period of five years, to ensure increasing representation of women in the executive level of FTSE 350 companies.
A fresh independent steering body with a new Chair and members has now been convened. Sir Philip Hampton, Chair of GlaxoSmithKline, and former Chair of RBS and Sainsbury’s, has been appointed to lead the new review and Dame Helen Alexander, Chair of UBM, will be Deputy Chair.
The review will monitor progress over the next five years on the various concluding recommendations made by the Davies Review, including:
- increasing the target for women's representation on FTSE 350 boards to a minimum of 33%, with growing numbers of women being appointed to the roles of Chair or Senior Independent Director, or into Executive Director positions;
- extending best practice demonstrated at Board level to improve the representation of women on Executive Committees and in senior leadership positions in FTSE 350 companies.