The Parker review indicates a troubling stagnation in ethnic diversity among mid-sized British businesses, with nearly 20% failing to improve their boards. While many listed firms have made strides, 46 FTSE 250 companies missed a December deadline for appointing non-white directors. Progress is noted, with over half of FTSE 100 boards now including minority representation. However, private firms lag, with 26 high-revenue firms not responding or failing to improve. FTSE 100 firms aim for 15% representation and FTSE 250 for 13% by 2027, falling short of the national average.
Overall progress is very much moving in the right direction, though five FTSE 100 businesses still lack ethnic minority representation in their boardrooms, up from four.
The Parker review was launched in 2015 to set diversity targets in British businesses and tackle groupthink, leading to significant improvements in board composition.
Private companies are lagging behind public firms, with 26 high-revenue private firms failing to improve their board diversity or not responding to the survey.
Ethnic minorities account for 11% and 9% of senior management in FTSE 100 and FTSE 250, respectively, still below the 17% national average in England and Wales.
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