Most of UK's largest companies have at least one ethnic minority board member

By Simon Jessop

LONDON – Nearly all of Britain’s high corporations now have no less than one ethnic minority board member, the government-backed Parker Evaluate committee, set as much as enhance the range of UK boards, mentioned on Wednesday.

Bettering boardroom range has change into a sizzling subject for policymakers and traders in recent times, as many consider it each helps to handle social inequalities and likewise results in higher decision-making and efficiency over time.

“Our December 2021 goal of each FTSE 100 firm having no less than one board director from a minority ethnic background has very practically been met,” mentioned John Parker, chairman of the Parker Evaluate Committee.

“We have now additionally secured commitments from most of the excellent corporations which imply it's doubtless that circa 97% of present FTSE 100 corporations will adjust to the goal by the center of the yr.”

Final yr, the variety of FTSE 100 corporations to fulfill the voluntary goal rose to 89 from 74, and by March 2022, an extra 5 had finished so. Three have dedicated to take action and are within the superior phases of recruiting.

Of the three corporations but to commit, one is within the means of being acquired and can delist, one other is a Russian metal and mining firm about to exit the FTSE 100, and the final is a UK subsidiary of a U.S. group, it mentioned.

Many of the positions taken by ethnic minorities are non-executive, with solely six within the place of chief government of a FTSE 100 firm, and 16 at a FTSE 250 firm.

Among the many FTSE 250, 128 corporations now meet the goal forward of an end-2024 deadline, it added. The targets for each the FTSE 100 and FTSE 250 had been initially set in 2017.