Seven FTSE 100 boardrooms without a single woman

Cable: "Doing nothing is not an option anymore”

Vince Cable has warned the seven remaining FTSE 100 companies without a single woman in their boardrooms that “doing nothing was not an option anymore”.

 In a letter sent to the chairman and chief executive of each business, he made clear that he wanted a “significant female presence” on every board by 2015.

There were 21 FTSE 100 companies solely directed by men at the beginning of the Coalition government two and a half years ago, but mining specialists Xstrata, Glencore, Kazakhmys, Vedanta and Antofagasta, chemicals manufacturer Croda and Melrose, which specialises in performance improvement of businesses, are still to make changes in the way they’re managed.

The Business Secretary added that it was “not about equality, [but] good governance and good business”, and that “diverse boards [benefit] from fresh perspectives, opinions and new ideas which ultimately serve the company’s long term interests”.

This announcement came five days after the World Economic Forum in Davos, Switzerland, held a panel about women in economic decision-making, where Christine Lagarde, head of the IMF, called for greater gender equality in companies.

She accused companies of only giving jobs to women when they are “a basket case, a lost cause”, and that gender diversity and inclusiveness were important for humanity, as well as business.

Out of the 2500 people who attended the conference, 83 per cent were male, which accurately mirrors reality, as women currently make up only 16 per cent of all FTSE boards.

Companies were also criticised for overturning the gender imbalance by simply appointing female non-executive directors, who arguably have less power and influence on a day-today basis.

Only 20 per cent of boards have female executive directors, and Burberry and Imperial Tobacco are the sole two FTSE 100 UK companies to be run by women – respectively Angela Ahrendts and Alison Cooper.

The European Commission proposed to resolve this by making it mandatory for companies to have 40 per cent female directors on their boards, but several EU nations, including the UK, are opposed to the idea.

UK ministers want companies to have at least one female director for every three men by 2015 but do not back quotas, preferring to encourage a voluntary approach.

A study published by Randstad UK last December showed that this opinion was shared by women currently working in business, with 73 per cent of respondents saying that “self-doubt” was the main reason for women holding back, and only 6 per cent backing compulsory quotas.

Vince Cable wants every FTSE board to have a significant women presence by 2015

Marie le Conte is a freelance journalist.

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Is defeat in Stoke the beginning of the end for Paul Nuttall?

The Ukip leader was his party's unity candidate. But after his defeat in Stoke, the old divisions are beginning to show again

In a speech to Ukip’s spring conference in Bolton on February 17, the party’s once and probably future leader Nigel Farage laid down the gauntlet for his successor, Paul Nuttall. Stoke’s by-election was “fundamental” to the future of the party – and Nuttall had to win.
 
One week on, Nuttall has failed that test miserably and thrown the fundamental questions hanging over Ukip’s future into harsh relief. 

For all his bullish talk of supplanting Labour in its industrial heartlands, the Ukip leader only managed to increase the party’s vote share by 2.2 percentage points on 2015. This paltry increase came despite Stoke’s 70 per cent Brexit majority, and a media narrative that was, until the revelations around Nuttall and Hillsborough, talking the party’s chances up.
 
So what now for Nuttall? There is, for the time being, little chance of him resigning – and, in truth, few inside Ukip expected him to win. Nuttall was relying on two well-rehearsed lines as get-out-of-jail free cards very early on in the campaign. 

The first was that the seat was a lowly 72 on Ukip’s target list. The second was that he had been leader of party whose image had been tarnished by infighting both figurative and literal for all of 12 weeks – the real work of his project had yet to begin. 

The chances of that project ever succeeding were modest at the very best. After yesterday’s defeat, it looks even more unlikely. Nuttall had originally stated his intention to run in the likely by-election in Leigh, Greater Manchester, when Andy Burnham wins the Greater Manchester metro mayoralty as is expected in May (Wigan, the borough of which Leigh is part, voted 64 per cent for Brexit).

If he goes ahead and stands – which he may well do – he will have to overturn a Labour majority of over 14,000. That, even before the unedifying row over the veracity of his Hillsborough recollections, was always going to be a big challenge. If he goes for it and loses, his leadership – predicated as it is on his supposed ability to win votes in the north - will be dead in the water. 

Nuttall is not entirely to blame, but he is a big part of Ukip’s problem. I visited Stoke the day before The Guardian published its initial report on Nuttall’s Hillsborough claims, and even then Nuttall’s campaign manager admitted that he was unlikely to convince the “hard core” of Conservative voters to back him. 

There are manifold reasons for this, but chief among them is that Nuttall, despite his newfound love of tweed, is no Nigel Farage. Not only does he lack his name recognition and box office appeal, but the sad truth is that the Tory voters Ukip need to attract are much less likely to vote for a party led by a Scouser whose platform consists of reassuring working-class voters their NHS and benefits are safe.
 
It is Farage and his allies – most notably the party’s main donor Arron Banks – who hold the most power over Nuttall’s future. Banks, who Nuttall publicly disowned as a non-member after he said he was “sick to death” of people “milking” the Hillsborough disaster, said on the eve of the Stoke poll that Ukip had to “remain radical” if it wanted to keep receiving his money. Farage himself has said the party’s campaign ought to have been “clearer” on immigration. 

Senior party figures are already briefing against Nuttall and his team in the Telegraph, whose proprietors are chummy with the beer-swilling Farage-Banks axis. They deride him for his efforts to turn Ukip into “NiceKip” or “Nukip” in order to appeal to more women voters, and for the heavy-handedness of his pitch to Labour voters (“There were times when I wondered whether I’ve got a purple rosette or a red one on”, one told the paper). 

It is Nuttall’s policy advisers - the anti-Farage awkward squad of Suzanne Evans, MEP Patrick O’Flynn (who famously branded Farage "snarling, thin-skinned and aggressive") and former leadership candidate Lisa Duffy – come in for the harshest criticism. Herein lies the leader's almost impossible task. Despite having pitched to members as a unity candidate, the two sides’ visions for Ukip are irreconcilable – one urges him to emulate Trump (who Nuttall says he would not have voted for), and the other urges a more moderate tack. 

Endorsing his leader on Question Time last night, Ukip’s sole MP Douglas Carswell blamed the legacy of the party’s Tea Party-inspired 2015 general election campaign, which saw Farage complain about foreigners with HIV using the NHS in ITV’s leaders debate, for the party’s poor performance in Stoke. Others, such as MEP Bill Etheridge, say precisely the opposite – that Nuttall must be more like Farage. 

Neither side has yet called for Nuttall’s head. He insists he is “not going anywhere”. With his febrile party no stranger to abortive coup and counter-coup, he is unlikely to be the one who has the final say.