The government is reported to have warned FTSE 100 companies they must secure a minimum 25% of female directors by 2015 or else face possible measures, with legislature being threatened by the European Union. The EU’s Justice Commissioner, Viviane Reding, has said that “self-regulation so far has not brought about satisfactory results”.
The Cranfield School of Management intends to publish their report on women in UK every six months in response to the recommendations put forward by Lord Davies in February 2011.
Will Higgs will be keeping up with future reports, expecting to see a steady increase in the number of female directors and board members. The report’s co-author Susan Vinnicombe echoed these hopes, saying Cranfield were pleased to be reporting substantial improvements in the role women have to play in the modern corporate world; “The past 12 months have seen a significant amount of global activity around diversifying boards. If the momentum we have seen continues we could achieve 30% women on boards in less than four years, which would be a terrific achievement.”
“This can only be good for business,” said Will Higgs, whose company – Cascade – has come out in full support of having more women in high-power jobs. “But we must not forget the issue of equal pay for men and women. This is still an issue for many companies which need to be addressed, and only when women are truly considered equal can the world of business can progress to a bright new future.”
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Newly formed in October 2011 to service a growing demand in the business development sector, Cascade offers a system of unique direct marketing solutions.