Female office workers who toil in cubicles consider Helena Morrissey, chief executive of Newton Investment Management, something of a rock star.
As well as juggling the responsibilities of her day job, Ms Morrissey is drawing scads of attention for her efforts to push her fellow sisters up the greasy pole. Her most well-known initiative to date? The 30% Club, which sets out “an aspiration” that women should make up at least 30 per cent of each UK corporate board by 2015. Seven UK-based chairmen are founder members of the club, and two of them have already appointed additional women to their boards since it was launched last November. The club’s debut came months before a government inquiry on the issue of women in the boardroom wrapped up.
In his report, Lord Davies of Abersoch recommended that FTSE 100 companies aim for at least a quarter of their boards to be made up of women by 2015, while FTSE 350 companies should clearly outline the percentage of women they expect to ssee on their boards by 2013 and 2015.
Not a fan of quotas, Ms Morrissey applauded Lord Davies’ efforts to shake up male-dominated boardrooms:
“I warmly welcome Lord Davies’ recommendations and believe they will add to the significant momentum already building towards achieving a higher representation of women on UK boards and, as importantly, the development of women’s careers generally. He has struck the right balance by calling for decisive and measurable action without resorting to quotas.”
Ms Morrissey and Lord Davies have much work to do, however. Last year, women comprised just 12.5 per cent of the boards of FTSE 100 companies, which represents a modest improvement on their representation of 9.4 per cent in 2004.