The debate on the Higgs report on corporate governance has generated heat and light on the role and responsibility of directors. The issues are contentious, but one crucial aspect has been almost neglected in the debate - the importance of diversity in the boardroom. There is real evidence that a diverse board team can bring competitive advantage.
Surprisingly, women make up just 4% of listed company directors. More than 99% of all UK listed companies are chaired by men. Figures for ethnic minorities are more elusive.A survey conducted for the Higgs report showed only 1% of non-executive directors were from black and ethnic minority groups. The problems of widening and deepening experience in the boardroom were among the issues explored at a recent Odgers Ray & Berndtson forum with the theme of “Diversity in the Boardroom”.
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