In Brief

Investors warn top firms on lack of women in the boardroom

Some of the UK’s biggest firms told that shareholders are ‘restless’

Some of the country’s biggest firms have been warned that their shareholders are getting “restless” about the lack of women on their boards.

The Investment Association told listed companies including BP, housebuilder Persimmon and travel firm Tui they may face investor revolts because they have so few women in leadership roles. The Association’s fund managers own one third of all shares in the FTSE index.

The organisation has written to 14 FTSE 100 companies, 35 FTSE 350 businesses and 21 firms in the FTSE 250 asking them to explain their poor gender balance, The Guardian reports. The letter also demands improvements.

Legal & General Investment Management, one of the biggest investors on the stock market, also warned the firms, saying it will vote against the chairs of all FTSE 350 companies this year if their boards are not at least 25% female.

Chris Cummings, chief executive of the Investment Association, said: “A number of key investors have told us that they will vote against AGM resolutions on the grounds of gender representation.

“With the AGM season now in full swing, companies who are falling short should take urgent steps to outline what they plan to do to increase diversity.”

Recommended

António Horta-Osório’s unforced error
António Horta-Osório: resigned quickly
Why we’re talking about . . .

António Horta-Osório’s unforced error

Unilever/Glaxo mega-merger: a very bad idea?
Unilever CEO Alan Jope: quietly plotting
Behind the scenes

Unilever/Glaxo mega-merger: a very bad idea?

London house prices ‘consistently outpaced’ by regional markets
City of London aerial view
In Focus

London house prices ‘consistently outpaced’ by regional markets

How high could UK inflation rise in 2022?
Pound coins and bank note
In Focus

How high could UK inflation rise in 2022?

Popular articles

Best new TV crime dramas of 2022
Hidden Assets BBC
In Depth

Best new TV crime dramas of 2022

Is Bosnia on the brink of another civil war?
Bosnian Serb leader Milorad Dodik
In Depth

Is Bosnia on the brink of another civil war?

Djokovic vs. Nadal vs. Federer: career records and grand slams
Novak Djokovic, Rafael Nadal and Roger Federer have all won 20 grand slam singles titles
Profile

Djokovic vs. Nadal vs. Federer: career records and grand slams

The Week Footer Banner