Of the half of companies that have publicly available codes of ethics, only 57% of the codes are up to scratch, survey finds.
Companies appear to be sticking with experienced leaders—to the detriment of progress—suggests FTSE 350 boardroom research.
This year’s report shows that, although significant progress has been made, many companies have increased diversity through NED appointments.
Just 19% of chair, chief executive, chief financial officer or senior independent director roles went to women in 2021.
Gap between FTSE 350 CEOs and average workers has risen from 34:1 to 63:1, according to early figures collated by the High Pay Centre.
Nominations committees must be more diverse themselves if they are to boost diversity in their organisations, says a report for the Financial Reporting Council.
Few companies have put employees on the board, but those that have prove the option is “not incompatible” with UK governance.
A count by diversity campaign group the 30% Club shows that there is now a woman on the board at every company in the FTSE 100 and FTSE 250.
Report says progress on gender at small firms is largely down to more female NEDs, with “no material improvements” in ethnic diversity.
Research shows that FTSE SMC/AIM firms lag behind the FTSE 350 on boardroom diversity. Yet biggest does not need to be best in this field.