Some of Britain’s biggest firms are slammed for not hiring women in their boardrooms
Some of Britain’s biggest businesses have been slammed for failing to hire women in their boardrooms as the backlash against City sexism continues.
A total of 69 firms with just one woman or none on their board have received letters from the Investment Association criticising their lack of diversity.
The IA – which represents major fund managers – is asking the FTSE 350 companies what they plan to do to fix the problem, and how they intend to hit a target for 33 per cent of directors to be female by 2020.
City sexism: A total of 69 firms with just one woman or none on their board have received letters from the Investment Association criticising their lack of diversity
Businesses featured on the IA’s list of shame include high-cost lender Amigo, retailer JD Sports and wealth manager St James’s Place.
The worst offenders are property investor Daejan Holdings, hotel business Millennium & Copthorne and TR Property Investment Trust, which have no female board members at all.
Firms which fail to give an acceptable reply face shareholder revolts at this year’s annual meetings.
Chris Cummings, boss of the IA, said: ‘Investors have been consistently clear that they want to see greater diversity in the boardroom so it is totally unacceptable that one in five of the UK’s biggest companies are falling so far short.
‘Companies must do more than take the tokenistic step of appointing just one woman to their board and consider that job done,’ Cummings said.
‘Companies must up their game and explain clearly how they are planning to meet the targets, or risk investor dissent.’