Independent External Board Evaluations every three years became a key element of the 2010 Governance ‘Code’. Since then, there has been a growing development and focus on the Board as an independent entity. The ‘2010 Code’ stimulated an increased depth of Board effectiveness evaluation across the FTSE 350 and allied companies and organisations who now use the ‘Code’ as a benchmark of governance excellence.
In the UK, a quota was imposed following the 2011 publication of the Davies Report, which set a target of 25% females on FTSE 100 Boards by 2015 – which was achieved. The subsequent Hampton-Alexander Review (both INSEAD alumni) upped the target to 33%, but, more importantly, reinforced the Davies’s aspiration to drive such targets deep into the FTSE 350, with a focus on the development of a pipeline of women leaders destined for the executive committee.
