Voting is not just about boardroom composition but also the quality of organisations’ diversity policies, and that is why LGIM is putting its money where its mouth is.
We believe that better diversity brings economic as well as cultural benefits. The World Economic Forum reports that economic gender parity could add a further US$250bn to the UK’s GDP.
This is why in 2017 we voted against more board chairs than ever at UK companies on the basis of poor diversity.
Indeed, during that year we voted against 37 board chairs or chairs of nomination committees of UK boards due to poor diversity—the highest number since we established this voting policy in 2015.
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda