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UK – Board Diversity Not about Equality, Says Cable

30 January 2013

Business Secretary Vince Cable has today written to the chairmen and CEOs of the last seven FTSE 100 firms which have no women on their boards. He has urged them to take action and increase the number of women in the boardroom.

Mr Cable has asked the remaining companies – Antofagasta, Croda, Glencore, Xstrata, Kazakhmys, Melrose and Vedanta – to explain what steps they have taken to increase diversity and female board representation.

“Over the last two and a half years we have seen real progress in the number of talented women reaching the boards of our top companies. My vision by 2015 is that Britain will not have a single FTSE 100 board without a significant female presence,” said Mr Cable.

“This is not about equality, this is about good governance and good business. The international evidence supports this: diverse boards are better boards benefiting from fresh perspectives, opinions and new ideas which ultimately serve the company’s long term interests.”

He said he was determined to see action and “doing nothing” was no longer an option.  

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