UK firms given four years to appoint ethnic-minority directors
Source: The Guardian
The Guardian has reported that an initiative outlined by a Government review of the FTSE100 companies has ruled that firms must appoint one board-level director from an ethnic minority background in the next four years, as an attempt to push back against the lack of diversity in Britain’s corporate landscape. Those in the FTSE250 will have until 2025 to take measures to diversify.
Of the 1050 directors reviewed, only 85 were of an ethnic background, and 51 of the FTSE100 companies have no ethnic minorities in their boardrooms. Sir John Parker who conducted the review described it as a “wake up call”, stating that: “The databases of a number of executive search firms demonstrate that a range of ethnically diverse eligible candidates, who could be considered for a number of job specifications in the boardroom, are available now. As time passes, this pool of talent will be enhanced and grow.”