A ‘radical change’ is necessary to ensure more women working in the UK make it into top jobs, according to an inquiry into male dominance in the boardroom.
In a report, Women on Boards, Lord Davis has recommended the UK Financial Reporting Council (FRC) amends the UK corporate governance code to ensure listed companies establish policy to create more diversity in the boardroom. Davis said the amended governance code should include measurable objectives for implementing the policy including a summary of the policy and progress made in achieving the objectives annually.
The FRC has said it will review the suggestions and consult on whether to make further changes to the existing code.
The Institute of Chartered Accountants for England and Wales (ICAEW) is also launching a nine-month programme to help and support women aiming for senior management roles in finance.
The ICAEW said the programme will focus on developing leadership style through a blend of workshops, peer learning groups and one-to-one mentoring sessions.