The release of the new Parker Review in February 2020 provided data behind the ethnicity debate which resulted in companies aiming to add one ‘ethnically diverse’ director to their corporate boards, by the end of 2021.
As of the 2 of November 2020:
- 74 FTSE 100 companies had ethnic representation on their boards, compared to 52 in January 2020 (and by March 2021, a further seven FTSE 100 companies confirmed that they had appointed a director from a minority ethnic group);
- 21 FTSE 100 companies who completed the survey had no ethnic representation on their boards
- 124 out of 998 board positions in the companies that responded are held by 118 ethnic minority directors (12 per cent), compared to 95 directors in 2020; and
- Five ethnic minority directors occupy a CEO position, with two individuals in Chair roles and four in CFO roles.
For the first time in six years, there are no black chairs, chief executive officers or chief financial officers at the UK’s 100 largest companies.
Diversity, social impact and long-term sustainable growth creation, are increasing purported to be at the heart of our largest companies. During this event our expert panel will look at how these topics are impacting firms and consequently the investable universe:
- What factors will influence and deliver the next wave of racial equality change?
- What lessons have been learnt and are there any new approaches needed to be considered to embed racial inclusion at all levels as part of the business strategy?
- How are firms pushing the boundaries by adopting new ways of thinking and taking action?