We aim to develop and operate our business with an inclusive and diverse culture; with equal opportunity in recruitment, career development, training and reward. These policies support the attraction and retention of the best people, improve effectiveness, deliver superior performance and enhance our success.
Our executive and leadership population is regularly and rigorously assessed against achievement of individual objectives and key leadership qualities, to help build a sustainable development and succession plan. We have a number of programmes and initiatives in place to increase diversity in our senior management positions, including executive sponsorship and mentoring of high-potential females and ethnic minority managers.
Our Board diversity policy reaffirms our aspiration to meet and exceed the voluntary target of 33 per cent of Board positions to be held by women by 2020, as set out by Lord Davies. The Nominations Committee is responsible for developing measurable objectives to support the implementation of the Board diversity policy and for monitoring progress towards the achievement of these objectives. In April 2017, the Nominations Committee reviewed these objectives and, following the recommendations of the Hampton-Alexander Report, the Committee extended this voluntary target of 33% women by 2020 to the Executive Committee and direct reports to this committee. The Committee also reviewed The Parker Review, published in November 2016, which recommends that every FTSE 100 board should have at least one director from a non-white ethnic minority by 2021. The Committee reflected this recommendation in a new objective. The Nominations Committee regularly reviews the balance of skills, experience, independence, diversity and knowledge on the Board and its Committees, but is mindful that in all appointments we secure the best candidate for the relevant role.
Our Board continues to support the engagement of executive search firms who have signed up to the Voluntary Code of Conduct on gender diversity and best practice.
We currently have 33.3% women on our Board (as at 1 January 2020) and 37.5% women on our Executive Committee (as at 5 November 2019) and 26% women direct reports to the Executive Committee (as at 15 May 2019).
Updated 1 January 2020