UK: The Parker Review - an update on the ethnic diversity of boards

The Parker Review today published a report with up to date analysis of the ethnicity of FTSE350 company directors: see here (pdf). This follows the publication of the original report, in 2017, in which two targets were set: that, by the end of 2021, all FTSE100 boards would have at least on director of colour; FTSE250 companies were to meet this target by 2024.

The update reports that in the FTSE350, amongst directors where ethnicity is known, there are 7.5% directors of colour. In the FTSE100, there are 98 directors of colour. The report was based on information from 256 companies and over half of these - 150 (31 from FTSE100; 119 from the FTSE250) - did not have at least one director of colour on their boards. The report also contains research commissioned by the Financial Reporting Council on the reporting of board diversity policy in annual reports. This research reveals that most FTSE350 companies do not set measurable objectives for board ethnic diversity. The FRC has commented on these findings: see here.