Equality: EC Policies on Women on Corporate Boards

Lord Watson of Richmond Excerpts

Wednesday 17th October 2012 Lords Chamber

[Baroness Stowell of Beeston]

As I said about the shortlist, the executive search companies are putting forward 30% of women to companies; clearly that is working in getting women into non-executive positions. However, more work is needed to target the executive ranks. As I explained, this will take longer. It is worth noting that in countries such as Norway where there are quotas, the quotas in force for non-executives have not led to a greater improvement among the executive ranks at the same rate. This is a difficult problem that goes much wider than the narrow point we are discussing.

[Lord Watson of Richmond]

My Lords, does the noble Baroness not agree that public opinion plays a very important role in this and that the battle has to be won with public opinion? After all, what is the chance of recovery from recession unless women play a more important leadership role in our top companies?

[Baroness Stowell of Beeston]

My noble friend is absolutely right. The case for women in senior positions, whether they are executive or non-executive, is clear. Women account for nearly half the workforce and women outperform men educationally at every level. We are also responsible for about 70% of household purchasing decisions so it makes sense to have women in positions of authority in the corporate world.