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'Action needed' to increase number of female executives

Saturday 15 December 2012 by

The Confederation of British Industry (CBI) has called for action to be taken in order to increase the number of women on British boards, news which may interest those in finance jobs.

One way to tackle the under-representation of females would be for the UK to revise the Corporate Governance Code to require companies to explain their diversity policies if they are not hiring enough women.

According to the body, a similar scheme due to be introduced in Australia next year has already seen a sharp increase in the number of female board appointments.

"What is needed is cultural change, not quotas, ratios or tokenism," said the CBI's president Helen Alexander.

She added that was why a flexible system is needed to allow organisations to set realistic targets for their businesses.

Figures released last month by the Cranfield School of Management revealed just one in eight members of the boards of the UK's top 100 companies were women.