Where are the boardwomen?
UK FTSE 350 companies are falling far short of the target of having one-third female boardrooms by 2020, while 10 firms still only have all-male boards. Some 40% of all appointments need to go to women over the next two years for the FTSE 350 to achieve the 33% target, according to the government’s Hampton-Alexander review.
“Women are good for business – they bring valuable perspectives and experiences to the decision-making process,” says Minister for Women Victoria Atkins. “FTSE 350 companies need to do their bit and accelerate progress. There is no excuse for having an all-male board.”
But Josh Krichefski, CEO of MediaCom UK, points out that this is not merely a tickbox exercise.
“From a business perspective, gender diversity is a no brainer – the more diverse a company is, the richer it will be in terms of quality of people and ideas,” he says. “But it’s also about hiring the right people, many of whom will be women. Businesses shouldn’t just hit targets for the sake of it, but should ensure their leadership teams are the best teams to drive success.”
Krichefski adds that MediaCom London is able to boast a 50:50 gender ratio across senior management.
“By making gender balance integral to the way we do business, we can build diverse campaign ideas, which will in turn create unbiased content,” he says.