We have today received an undated letter from BIS over the signatures of Vince Cable and Lord Davies asking, inter alia, that companies identify (to BIS) two female candidates from our senior management team and give them the opportunity to serve as NEDs on other company boards. BIS are planning an event in early April for Chairmen to meet these potential (female) candidates for NED positions. How are companies planning to respond to this request?
We have not as yet received the letter but are looking out for it and would want to respond
We haven’t received the letter yet. I would discuss with our Chairman how he would wish to respond. At least 2 of our female senior leaders are already NEDs elsewhere.
We plan to highlight this letter at our next Nomination Committee meeting as part of the broader discussion on Board Composition.
We have not received the letter as a FTSE Small Cap, but I think it is a fantastic idea and the potential to open up a strong pool of candidates that would not be otherwise considered. I hope that a number of FTSE 350 company secretaries will be put forward as poential non-exec candidates. We had a FTSE 100 co sec/barrister on our board for a number of years. She was very good and now has a series of non-exec positions/chairs elsewhere.