Women Directors Help Connection With Customers

12.27.41pm GMT Tue 11th Nov 2003

Commenting on new research showing that the number of women directors in FTSE 100 companies has topped 100 for the first time, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said: "Shareholders should be demanding more women directors on the grounds that it will help companies connect better with their customers."

"The evidence points to the fact that more balanced boardrooms perform better than those dominated by the old boy network."

Sandra Gidley MP, Liberal Democrat Shadow Minister for Women, added: "The twenty percent increase in female directors is welcome, but while 32 of the FTSE 100 companies have no women directors, we cannot claim that the glass ceiling has broken completely."

ENDS

Notes to Editors:

Key findings of the report from Cranfield School of Management's Center for Developing Women Business Leaders show -

• The number of female directorships is up by 20% this year (101 female directorships in 2003, up from 84 in 2002).

• 18 (90%) of the top 20 companies by market capitalisation have women directors this year, compared to only 8 (40%) of the bottom 20 companies by market capitalisation.

• There are still 32 top companies with no women directors at all. - A third of women directors have titles (Baroness, Dame, Prof, Dr) compared to a fifth of male directors. It seems that 'branding' is more important for female than male directors.

• The number of female executive directorships has gone up from 15 to 17.

• There is still only one female CEO (Marjorie Scardino of Pearson) and one female Chairman (Baroness Hogg of 3i).