06 May 2011
CBI official backs FRC's review of boardroom diversity
A leading business group has added its support to a consultation that may result in instances of sex discrimination in upper management circles of listed companies.
The Financial Reporting Council (FRC) has begun its period of investigation into whether or not such organisations should be made to make their policy on boardroom gender diversity public knowledge.
It is thought that implementing such a rule might increase levels of transparency in boardrooms across the country, insofar as it would give firms no place to hide when it comes to their senior appointments.
And Matthew Fell, director for competitive markets at the Confederation of British Industry (CBI), has spoken out in favour of the FRC's prospective action, which may result in the employment laws of Britain being altered.
"Given the slow progress on improving boardroom diversity, the FRC should implement changes to the Corporate Governance Code sooner rather than later," he said.
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Posted by Cheryl Bennett