Co-op strives for more women on top boards

THE Co-operative Group has pledged to increase the number of women on its main boards as it strives to become more representative of the wider public.

The goal – which will apply to the boards of Co-op Group and Co-op Bank – is a central plank of its ethical plan which sets a series of targets for the business over the next five years.

Since 2011 a quarter of the Co-op group’s 20-strong board has been made up of women, but under the ethical plan this will rise to 40% by 2018.

FTSE 100 companies have been urged to hit the 25% target by 2015. Just two of the bank’s board of 12 are women, or 17%.

The Co-op’s mutual structure means members can have a say in the business through 48 elected area committees. Another aim is to make these more representative of the general population.

It wants them to have more carers, members from ethnic minority backgrounds and disabled people. The goal is also for more lesbian, gay, bisexual and transgender people.

Group chair Len Wardle said: “We want to be the most socially responsible business in the UK and our latest Ethical Plan sets out our intention to improve the diversity of our governance structures.  
 
“These are difficult targets and we have far to go, but our businesses operates in communities across the UK so it is essential that we work even harder to ensure that our governance structure represents them.”