29 September 2011
Firms offered guidance on boardroom equality
Companies have been issued with guidance on how they can go about combating discrimination in the boardroom.
The Association of British Insurers (ABI) has published its first report on Board Effectiveness, in which it offers details on how organisations listed on the FTSE 350 share index can make sure they are structured equally.
According to this document, firms should strive to make sure they have clear and transparent internal policies when it comes to the composition of their senior management roles.
Furthermore, the body has also released its updated Principles of Remuneration, in which it states that non-executive directors should play a role in the pay structures of companies.
Otto Thoresen, director-general of the ABI, commented: "Effective boardrooms should be the powerhouse of the UK economy."
This comes after seven leading institutional investors recently sent a letter to firms on the FTSE 350 asking them to reveal their plans to tackle gender inequality
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Posted by Francesca Witney