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CBI comments on FRC Boardroom Diversity Consultation

The CBI has commented on the Financial Reporting Council’s consultation document: Gender Diversity on Boards, which could result in changes to the UK Corporate Governance Code.

Matthew Fell, CBI Director for Competitive Markets, said:

“We have been calling for action to get more women on boards, and believe that encouraging companies to report on their progress is the best way to achieve this.

“In our submission to Lord Davies’ review we said firms should report against internally-set targets, which reflect their different circumstances. It is good news that the FRC is proposing to follow this approach.

“Given the slow progress on improving boardroom diversity, the FRC should implement changes to the Corporate Governance Code sooner rather than later.

“With this issue under the spotlight in Brussels, the UK Government must mount a strong case for a “comply or explain” approach to reporting, rather than imposed quotas, to promote diversity.”

A copy of the CBI’s submission to the Davies’ review can be found at:

Media Contact:

CBI Press Office on 020 7395 8239 or out of hours pager on 07623 977 854. Follow the CBI on Twitter at: www.cbi.org.uk/twitter

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