Top firms lie about female directors, says IoD chief
Charlotte Valeur speaks out as number of female executive directors falls
The new chair of the Institute of Directors says Britain’s biggest companies are lying when they say they cannot find enough female or ethnic minority directors.
Speaking to The Guardian ahead of International Women’s Day, Charlotte Valeur, who joined the Institute of Directors in September, criticised large listed companies for not achieving diversity targets.
She said: “Do we really think that’s difficult? It’s a lie. It’s not difficult. I will be very unpopular with FTSE 100 [companies], but I don’t actually mind, because it’s not true that it’s difficult.”
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Valeur added: “People don’t like change. Talent of all kinds is out there, but you have to consciously look for it.”
The percentage of women on FTSE 250 boards is increasing very slowly. In the year to June 2018, it rose from 22.8% to 23.7%. But the percentage of female executive directors of FTSE 250 companies fell during that time, from 7.7% in October 2017 to just 6.4%.
Meanwhile, the Daily Telegraph reports that banks will be forced to publish regular updates on how much they invest in businesses run by women as part of a raft of new measures to boost female entrepreneurs.
Lloyds, RBS and UK Finance, the banking trade body, have already committed to the Investing in Women Code, which will force financial institutions to commit to distributing funding with gender balance in mind. The Treasury launches the code today.
According to a Whitehall-commissioned report published this morning, the gender funding gap – the disparity in capital raised by women when starting a business compared with men – means there are one million fewer women entrepreneurs in the UK than there could be.
The report says that there is a massive price to this issue: it says that if the gap continues, it will cost the economy £250bn over the next decade.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
'Ignore the polls. They're stupid.'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
The Finest Summer Flavours
By Sponsored Content Published
-
Today's political cartoons - May 20, 2024
Cartoons Monday's cartoons - flags flipped, Diddy dunked, and more
By The Week US Published
-
Will Aukus pact survive a second Trump presidency?
Today's Big Question US, UK and Australia seek to expand 'game-changer' defence partnership ahead of Republican's possible return to White House
By Sorcha Bradley, The Week UK Published
-
It's the economy, Sunak: has 'Rishession' halted Tory fightback?
Today's Big Question PM's pledge to deliver economic growth is 'in tatters' as stagnation and falling living standards threaten Tory election wipeout
By Harriet Marsden, The Week UK Published
-
Why your local council may be going bust
The Explainer Across England, local councils are suffering from grave financial problems
By The Week UK Published
-
Rishi Sunak and the right-wing press: heading for divorce?
Talking Point The Telegraph launches 'assault' on PM just as many Tory MPs are contemplating losing their seats
By Keumars Afifi-Sabet, The Week UK Published
-
How would a second Trump presidency affect Britain?
Today's Big Question Re-election of Republican frontrunner could threaten UK security, warns former head of secret service
By Harriet Marsden, The Week UK Published
-
'Rwanda plan is less a deterrent and more a bluff'
Instant Opinion Opinion, comment and editorials of the day
By The Week UK Published
-
How the biggest election year in history might play out
The Explainer Votes in world's biggest democracies, as well as its most 'despotic' and 'stressed' countries, face threats of violence and suppression
By Harriet Marsden, The Week UK Published
-
'Good democracies include their poorest citizens. The UK excludes them'
Instant Opinion Opinion, comment and editorials of the day
By The Week UK Published