Background. In June 2010, the new UK Corporate Governance Code came into force. For the first time, it acknowledged the value of diversity on boards, notably the role of women. Then, Lord Davies, commissioned by the government, published a report on increasing the number of women on boards (see our dispatch No. 110132). His recommendations, published in February 2011, included the need for the FRC to amend once again the Corporate Governance Code to encourage quoted companies to establish a board diversity policy and publish its development annually. As a reminder, in 2010, women accounted for only 12.5% of the board members of FTSE 100 companies.
for the FRC to amend once again the Corporate Governance Code to encourage quoted companies to establish a board diversity policy and publish its development annually. As a reminder, in 2010, women accounted for only 12.5% of the board members of FTSE 100 companies.
Proposals to amend the Code. Consequently, the FRC is now launching a consultation about three points to study: Are further changes needed in order to help achieve more diverse and more effective boards? If so, what should these c
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