Davies report calls for more women in boardroom

Firms have been told to more than double the number of women on their boards by 2015, or face government measures.

Former minister Lord Davies of Abersoch has urged FTSE 350 companies to boost the percentage of women at the board table to 25% by 2015.

But he stopped short of imposing quotas, unless voluntary measures fail.

The Chartered Management Institute (CMI) said the news would be welcomed by “nervous businesses”.

Lord Davies called on chairmen to announce in the next six months their goals “to ensure that more talented and gifted women” get top jobs.

“Currently 18 FTSE 100 companies have no female directors at all and nearly half of all FTSE 250 companies do not have a woman in the boardroom,” he said.

“Radical change is needed in the mindset of the business community if we are to implement the scale of change that is needed.”

CMI chief executive Ruth Spellman said: “The news that companies will not be forced to promote female workers to the boardroom by quota will be widely welcomed by nervous businesses.”

“However, a concerted effort still needs to be made to use female talent, otherwise companies will be missing out on a vast array of talent at their disposal.”

Diverse talent pool