‘Diversity is needed in island’s boardrooms’
THE Channel Islands have a long way to go before true diversity in the boardroom is achieved.
Andrew Dann, EY’s managing partner in the Channel Islands, said that it was vital to step up action in this area as research set out the picture in UK boardrooms.
Voluntary targets have boosted gender diversity on UK boards, but research by Cranfield University’s School of Management warned there are still too few women in senior leadership positions such as chief executive officer and chair to drive long-term change.
The annual Female FTSE Board Report, sponsored by EY, found that while the FTSE 350 looked on track to reach the target of 33% women on boards by December this year, a lack of representation at the top could be impacting the number of women in the executive pipeline.
The report also highlighted that there continues to be few women appointed to senior roles, with only five women CEOs, eight women chairs and 21 female senior independent directors in the FTSE 100.
‘There is no doubt that targets have helped to improve diversity on UK boards, by setting a clear vision and keeping organisations on track.
‘However, as outlined in the report, targets must be coupled with action on cultural change to accelerate progress for future generations and spark a positive ripple effect that extends into the wider economy and society,’ said Mr Dann.
‘Similarly to the UK, in the Channel Islands we have seen more women hold non-executive director positions on boards in recent years, but we have a long way to go before true diversity is achieved.
‘Accelerating progress on diversifying the boardroom is now more important than ever.
‘Faced with exceptional challenges, businesses will need creativity, different perspectives and experiences to navigate the years ahead and stimulate long-term growth.’