Manufacturing boards have more women
MANUFACTURING companies in the FTSE 100 have a higher than average number of women on their boards compared to other FTSE 100 businesses, a new study has found.
The report, published by EEF in partnership with Lloyds TSB Commercial Banking and Cranfield School of Management, is the first major assessment of the role of women in senior positions in manufacturing companies.
The EEF said the report came at a critical time given the debate over whether there should be statutory quotas for women on Plc boards, and because of the national debate on the shortage of female engineers at all levels.
The report highlights that out of the 29 manufacturing firms within the FTSE 100, women account for 19% of board positions, which is slightly higher than the 17% average of the entire FTSE 100.
Of the 309 FTSE 100 manufacturing board seats, 59 seats are held by women. Women make up 23% of all non-executive directorships and 8% of all executive directorships within the manufacturing FTSE 100, which is nearly identical to the entire FTSE 100 where women account for 22% of all NEDs and 6% of all EDs.
The study also includes a new ranking of the number of women on FTSE 100 manufacturing boards. GlaxoSmithKline tops the 2013 Female FTSE 100 ranking of manufacturing firms, with five women making up 33% of the board. In second place is Diageo, with four women out of 11 directors.
The majority of companies (62%) have one or two female board members and just under a quarter (24%) have three female directors. Burberry Group and Diageo have the greatest percentage of women on their boards (38% and 36% respectively).
Richard Holden, head of manufacturing at Lloyds TSB Commercial Banking said: “At present less than 10% of the UK’s engineers are women, which compares unfavourably with most of the rest of Europe. If the UK economy is to fulfil its potential, we need to challenge the male dominance in the manufacturing industries. We cannot continue to exclude half of the population from successful careers in the sector.”
