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10 ‘Pitiful’ Reasons for Not Appointing Women to FTSE Company Boards

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Women aren’t a good fit in boardrooms, most of them don’t want the hassle of a big job and they don’t understand the complex issues discussed in board meetings.

Those are just some of the ‘pitiful and patronising’ reasons given for not appointing women to FTSE company boards, according to a report on gender balance.

The Hampton-Alexander Review in the U.K. which calls for bosses to ensure that at least a third of Financial Times Stock Exchange (FTSE) company leadership positions are occupied by women by 2020, just released its progress report and the results are pretty dismal.

The U.K. government-backed Hampton-Alexander Review called it shocking, while a minister branded the excuses “pitiful”.

 

“We have one woman already on the board, so we are done – it is someone else’s turn”

 

While the review’s interim report found that things are definitely improving – the number of women on boards has more than doubled in the FTSE 350 since 2011 while the number of all-male FTSE 350 company boards also fell from 152 to 10 – there is still a long way to go. Currently, only 20.1% of boards globally have at least three women.

The top 10 excuses for not appointing women were:

  • “I don’t think women fit comfortably into the board environment”
  • “There aren’t that many women with the right credentials and depth of experience to sit on the board – the issues covered are extremely complex”
  • “Most women don’t want the hassle or pressure of sitting on a board”
  • “Shareholders just aren’t interested in the make-up of the board, so why should we be?”
  • “My other board colleagues wouldn’t want to appoint a woman on our board”
  • “All the ‘good’ women have already been snapped up”
  • “We have one woman already on the board, so we are done – it is someone else’s turn”
  • “There aren’t any vacancies at the moment – if there were I would think about appointing a woman”
  • “We need to build the pipeline from the bottom – there just aren’t enough senior women in this sector”
  • “I can’t just appoint a woman because I want to”

The explanations come from a range of FTSE 350 chairs and chief executives that were heard by the team conducting the review.

 

Via BBC Business

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