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L&G steps up action against firms with few female board members

https://www.theguardian.com/business/2019/apr/16/lg-steps-up-action-against-firms-with-few-female-board-members
See More From: theguardian.com   ( Cities, States & Countries > UK )

Apr 15, 2019 7:01 PM 1+ week ago

L&G steps up action against firms with few female board members

Legal & General fund managers voted against more than 100 chairmen in 2018

The UK's biggest fund management group voted against more than 100 chairmen last year, at firms including Barclays, Ted Baker and Sports Direct, for failing to boost the number of women in their boardrooms.

Legal & General Investment Management, which manages more than -L-1tn in assets, more than doubled the number of protest votes cast in 2018 over a lack of gender diversity. A year earlier the asset manager only voted against 37 UK chairmen.

This also marked a significant rise on 2016, when just 13 chairmen were targeted for falling below targets aiming to see women make up 25% of the company's board.

The benchmark meant LGIM voted against the re-election of Sports Direct's ex-chair Keith Hellawell, Barclays' chair John McFarlane, and Nicholas Ferguson of Savills estate agents.

It also cast a vote against David ...

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