Investors warn top firms on lack of women in the boardroom
Some of the UK’s biggest firms told that shareholders are ‘restless’
Some of the country’s biggest firms have been warned that their shareholders are getting “restless” about the lack of women on their boards.
The Investment Association told listed companies including BP, housebuilder Persimmon and travel firm Tui they may face investor revolts because they have so few women in leadership roles. The Association’s fund managers own one third of all shares in the FTSE index.
The organisation has written to 14 FTSE 100 companies, 35 FTSE 350 businesses and 21 firms in the FTSE 250 asking them to explain their poor gender balance, The Guardian reports. The letter also demands improvements.
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.
Legal & General Investment Management, one of the biggest investors on the stock market, also warned the firms, saying it will vote against the chairs of all FTSE 350 companies this year if their boards are not at least 25% female.
Chris Cummings, chief executive of the Investment Association, said: “A number of key investors have told us that they will vote against AGM resolutions on the grounds of gender representation.
“With the AGM season now in full swing, companies who are falling short should take urgent steps to outline what they plan to do to increase diversity.”
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
-
Inside the house of Assad
The Explainer Bashar al-Assad and his father, Hafez, ruled Syria for more than half a century but how did one family achieve and maintain power?
By The Week UK Published
-
Sudoku medium: December 22, 2024
The Week's daily medium sudoku puzzle
By The Week Staff Published
-
Crossword: December 22, 2024
The Week's daily crossword
By The Week Staff Published
-
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Speed Read Britain is currently in the grip of an ‘employment crisis’
By The Week Staff Published
-
Will the energy war hurt Europe more than Russia?
Speed Read European Commission proposes a total ban on Russian oil
By The Week Staff Published
-
Why the government opposes a windfall tax on oil and gas profits
feature BP profit surge triggers renewed calls for a levy to help struggling households
By The Week Staff Published
-
Will Elon Musk manage to take over Twitter?
Speed Read The world’s richest man has launched a hostile takeover bid worth $43bn
By The Week Staff Last updated
-
BP and Shell: the significance of Big Oil walking out of Russia
Business Briefing In time, a greener, cleaner BP may thank Ukraine for forcing its hand
By The Week Staff Last updated
-
Shoppers urged not to buy into dodgy Black Friday deals
Speed Read Consumer watchdog says better prices can be had on most of the so-called bargain offers
By The Week Staff Published
-
Ryanair: readying for departure from London
Speed Read Plans to delist Ryanair from the London Stock Exchange could spell ‘another blow’ to the ‘dwindling’ London market
By The Week Staff Published
-
Out of fashion: Asos ‘curse’ has struck again
Speed Read Share price tumbles following the departure of CEO Nick Beighton
By The Week Staff Published