The 30% Club – which pursues the goal of 30% female representation on UK boards by 2015 – last week launched its “Investor group”, comprising representatives from seven major institutional investors including Aviva Investors, The Co-operative Asset Management, F&C Investments, Jupiter Asset Management, Legal & General Investment Management, Newton Investment Management and Railpen. The purpose of the group is to:
“…work towards broadcasting the investment case for more diverse boards, encouraging all investment firms to engage on the issue of board diversity with Chairmen and management teams and to consider the issue when voting on the appointment and re-election of board members.”
The Davies Review of “Women on boards” was published in February 2011 (see this post) and is the centrepiece of initiatives – of which the 30% Club is one – to increase the number of women on listed company boards. In October 2011 the Financial Reporting Council, following recommendations in the Davies Review, announced changes to the UK Corporate Governance Code to strengthen the principle of boardroom diversity, as we reported in this post.
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