Member Article

Government appoints Sir Philip Hampton to drive FTSE 350 female entrepreneurship

The government has announced that Sir Philip Hampton, Chair of GlaxoSmithKline, and former Chair of RBS and Sainsbury’s, has been appointed to lead an independent review on increasing representation of women in the executive level of FTSE 350 companies.

Dame Helen Alexander, Chair of UBM, will support Sir Philip, taking on the role of Deputy Chair to the review.

Sir Philip’s new review will continue on from Lord Davies’s Women on Boards Review, a voluntary business led initiative, which saw female representation on boards in the FTSE 100 rise from 12.5% to beyond the target of 25%.

The next phase of the review will focus on building the pipeline for female executives and emerging non-executive directors, to continue the work already done on increasing board representation. This was one of the key recommendations from Lord Davies’s report.

Business Secretary Sajid Javid said: “The employment rate for women has never been higher and there are now more women on FTSE boards than ever before. But we need to go further, particularly when it comes to paving the way to the executive level.

“Companies cannot afford to miss out on the skills and talent of the whole population if the UK is going to compete in a fast-moving global economy. This is not just about diversity for diversity’s sake, but about improving performance and productivity.”

Sir Philip brings a wealth of business experience to this important role, and he has an impressive track record of creating a culture where women can thrive and succeed.

Women and Equalities Minister Nicky Morgan said: “Having more women on FTSE boards allows companies to benefit from the enormous wealth of talent these women offer, and means these women can act as powerful role models for the next generation of girls.

“We have come a long way but we must do more to make sure women everywhere are able to fulfil their potential. I want to see an end to all male boards anywhere on the FTSE 350, and much more progress at the executive layer where we know progress has been slowest to date.

“Men have a critical role to play in this and I look forward to working with Sir Philip and his team on this incredibly important agenda.”

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