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.

By 5.30pm today the average FTSE 100 CEO will have earned as much as a worker on median pay makes in a year.

Fund manager warns FTSE 100 nomco chairs that it will vote against reappointments “if they fail to meet expectations on ethnic diversity”.

Evidence shows that diversity on boards boosts financial performance. So why are some firms still failing to reach gender targets?

We need a renewed focus on the representation of both gender and ethnicity on boards, ensuring targets are comparable and given equal profile.

The Investment Association and Hampton–Alexander Review team have written to 63 companies asking how they intend to improve the gender balance on their leadership teams.