BEIS Committee Chair Rachel Reeves comments on FRC report on board diversity reporting

Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee, has commented on research published today by the Financial Reporting Council on board diversity reporting.

Rachel Reeves MP said: “Today’s report shows that while some welcome advancements on improving diversity reporting have been made, progress has slowed and some of our leading companies still have a long way to go. Reporting should not be seen as an end in itself – a box to tick – but as a tool to force companies to account for their own performance in promoting diversity at all levels. As recently highlighted, there are still some companies, such as Sports Direct, that are living in the dark ages by failing to have a single woman on their board, despite clear evidence to suggest that balanced senior teams make better decisions.”

The research conducted for the FRC by the University of Exeter Business School is available here.