A survey by Cranfield School of Management shows that during the first half of the financial year woman were appointed to 44% of board level positions at FTSE 100 firms, but that slowed to 26% in the second half. Women now make up 17% of board posts, (compared to 15% in the previous survey), but it is still well below the 25% target recommended by the Government-commissioned Davies review. Seven of the FTSE 100 companies still do not have one female board director. Cranfield argues that the figures show that firms may have become complacent about the issue. At the same time, Lord Davies published the second annual progress report into Women on Boards, where he states: “The onus was firmly placed on business to bring about this necessary change, and I am pleased to say that evidence clearly shows that they have, and are, stepping up and responding”. It appears difficult to reconcile these two views. Business Secretary, Vince Cable, takes the middle ground: “The Government continues to believe that a voluntary led approach is the best way forward. But today's report also serves as a timely reminder to business that quotas are still a real possibility if we do not meet the target of 25% of women on boards of FTSE companies by 2015.”
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