We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedChange Management

UK boardrooms need more women, says Vince Cable

Business secretary feels doing nothing “is not an option”

Article comments

UK business secretary Vince Cable has called for more women to be included on the boards of London-listed companies.

In a letter sent on Wednesday to seven FTSE 100 companies with no female representation on their boards, Cable queried what steps they were taking to increase diversity noting that "doing nothing is not an option".

A spokesperson for the Business Secretary said firms should aim to have at least one female director for every three male directors by 2015 but that he does not back “mandatory quotas”.

In his letter, Cable acknowledged that "real progress" had been made but "further action" was needed in the next couple of years.

"My vision by 2015 is that the UK will not have a single FTSE 100 board without a significant female presence. This is not about equality; this is about good governance and good business. International evidence supports this – diverse boards are better boards benefiting from fresh perspectives, opinions and new ideas which ultimately serve the company's long-term interests," he added.

The seven firms include Antofagasta, Croda, Glencore, Xstrata, Kazakhmys, Melrose and Vedanta.

Cable admitted that the said companies, which primarily operate in the natural resources sector, faced "challenges" in attracting more women. However, he added that “successful modern companies” learn to adapt and survive and “doing nothing is not an option anymore”.

The European Commission has suggested making it mandatory for EU companies to have 40 percent female directors on their boards, but the UK is among member nations opposed to the idea which could face legal complications. Other EU members Belgium, France, Spain and Italy have introduced quota laws of their own.


Recommended Articles


UK boardrooms need more women, says Vince Cable
Change Management

Ocado: Online food is not our bread and butter

Ocado: Online food is not our bread and butter

ComputerworldUK meets Ocado CTO Paul Clarke to find out why the company believes it is a tech company, not a retailer, at heartmore ..

Big increase in UK online sales tracked by IMRG Capgemini

Estimated £8.1 billion spent onlinemore ..

BHP Billiton names CFO Graham Kerr boss of new demerger business

BHP Billiton announced plans to separate its main business to simplify the group and boost shareholder valuemore ..

Online retailers to benefit from superfast broadband

Government hopes that 95 percent of the population will have superfast broadband by 2017more ..

How new technologies are 'disrupting' shared services

A whole new model with less staff, more focus on intellectual capabilities and localised staffing is evolvingmore ..

Car industry’s greatest challenge is the shift to software

BMW’s outage illustrates the minefield manufacturers are navigating in light of the connected carmore ..

Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..


* *