Lack of female directors prompts investor group fire FTSE 350 firms

• Radhakrishna N S
• 15 March, 2019

By: Radhakrishna N S

RAISING concern over a lack of gender equality and diversity, an investor group in the UK has written to more than 60 publicly listed firms with only a single female director.

The Investment Association (IA), which represents 250 firms, has joined up with the Hampton-Alexander review team to criticise FTSE 350 firms with “one and done” boardrooms that have a single female board member. 

Domino’s Pizza Group; JD Sports Fashion; the pubs group Greene King, owner of the Wagamama and Garfunkel’s restaurant chains are among the 66 firms to receive the letter, having been singled out in the latest Hampton-Alexander review in November.

The three companies with all-male boards, the property firm Daejan Holdings, Millennium & Copthorne Hotels and TR Property Investment Trust – have also received the letter.

A government-commissioned Hampton-Alexander review urged companies to have women constitute at least 33 per cent of FTSE 350 boards and leadership teams by 2020. 

The letter said: “We would like you to set out how you intend to make genuine progress to improving board diversity. We therefore ask you to set out what actions the board is taking to ensure that substantial progress is made to meet the Hampton-Alexander 2020 targets.”