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Report: Ethnic Diversity Enriching Business Leadership

An update on The Parker Review shows there has been slow progress on the ethnic diversity of FTSE boards.

Report: Ethnic Diversity Enriching Business Leadership 1

The independent review by Sir John Parker into the ethnic diversity of UK boards was first published in November 2016. It set out recommendations that FTSE 100 companies should have at least one non-white director by 2021 and FTSE 250 companies should have at least one non-white director by 2024. It also proposed developing the internal talent pipeline and enhanced transparency around diversity policies and reporting.

Key findings

  • 150 out of companies 256 companies (59%) did not meet the target of having at least one director of colour on their Boards, with less ethnic diversity observed on the Boards of FTSE 250 companies.
  • British citizens who are directors of colour held 61 Board posts across the FTSE 350, representing 2.6% of all those directors where we know their ethnicity, and 2.3% of all directors (including directors where we did not know their ethnicity).
  • Considering Board positions held by directors of colour, across the FTSE 350, 43% are held by females, comprising 42% of director of colour positions in the FTSE 100 and 45% of director of colour positions in the FTSE 250.
  • There is a concentration of directors of colour in a small number of companies. Eight companies account for nearly 25% of the directors of colour.
  • Across the FTSE 350, there are only 15 directors of colour from the survey respondents who occupy positions of Chair or CEO.

This report includes research carried out by the Cranfield School of Management on behalf of the Financial reporting Council to assess the current extent and manner of reporting by FTSE 100 and FTSE 250 companies on ethnic diversity at board and senior management levels in their annual reports. ­

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