Companies with all-male boards face protest votes from investors if they cannot demonstrate a plan to recruit women to boardroom positions.
According to The Sunday Times, a hit list of ten FTSE 350 companies with no female members on their board has been drawn by Royal London Asset Management.
The newspaper reports that Royal London’s head of corporate governance, Ashley Hamilton Claxton, said that nomination committee chairmen could find investors voting against them if there appears to be no progress on addressing all-male boards.
The current AGM season has already seen investors act on executive pay. Meanwhile, recent research from the Directory of Social Change revealed that 16% of the 399 companies it examined had no women on their boards.
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