Fund manager takes aim at US companies that have failed to appoint women to their boards.
All-male boards in the US will see the UK's biggest fund manager vote against them in a move to up the ante on boardroom diversity, according to a report in the Financial Times.
Clare Payn, head of governance in North America, is quoted by the FT as saying: "We feel there really should not be any all-male boards at this stage, as investors have been talking about this for so many years.”
The move comes as the latest statement on gender diversity in boardrooms, an area where many investors have said they will take a tougher stance this year.
Research published last year by the FT revealed that just 15% of boardroom positions in th
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European financial institutions should improve the diversity of their management bodies to overcome the risk of ‘group think’ and ensure sound governance, say European banking authorities in new guidelines published this week.
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