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11 Oct 2011
STRENGTHENED BOARDROOM diversity rules will require listed companies to report on progress made in changing the traditional boardroom demographic.
Changes to the Financial Reporting Council's UK Corporate Governance Code build upon the diversity principle first introduced in June 2010.
Further reading
Chairman Baroness Hogg (pictured) said gender diversity strengthens board effectiveness by reducing the risk of "groupthink", better exploiting the talent pool and keeping companies in touch with their customers.
"The changes we are announcing today, which were strongly supported in our consultation, will reinforce the code's principles by requiring companies to report on measurable objectives and progress in this important area. We believe this gives a further opportunity to show that Britain's "comply or explain", code-based approach can deliver a flexible and rapid response and is therefore preferable to detailed legal regulation, and we urge companies to demonstrate this as quickly as possible," she concluded.
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Back to basics
Glad to see they're focusing on important things, rather than actually letting companies find a way to get back to producng goods and hiring and recover from this crisis. [comment moderated]
"Chairman Baroness Hogg (pictured) said gender diversity strengthens board effectiveness by reducing the risk of "groupthink", better exploiting the talent pool and keeping companies in touch with their customers."
If so, this will improve profitability. So what is it that better positions Baroness Hogg as an entrepreneur than those whose money is actually invested? Absolutely diddly squat.
Posted by: Anthony, 11 Oct 2011 | 17:56