Tuesday 23 October 2012
IMA SUPPORTS DIVERSITY IN THE BOARDROOM BUT DOESN’T BELIEVE QUOTAS ARE THE SOLUTION
In response to the European Commission’s proposals on getting women on non-executive boards, Liz Murrall – IMA Director of Corporate Governance and Reporting, said:
“The most important thing for investors is that the board is effective in its role. A diverse board allows for a cross-section of skills, ideas and experiences, making it better-equipped to develop the company in the long-term.
“However, we don’t support quotas. Board appointments should be on merit and not to fill quotas. The lack of women on boards is a symptom of their underrepresentation at senior levels from where board members are recruited. Quotas would not address this and could also potentially alienate established board members.
“Nor should we forget that there is a need for better non-gender diversity – too many directors are accountants and lawyers, few of them having marketing or international experience."
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About the Investment Management Association
- The IMA is the trade body for the UK's £4.2 trillion asset management industry (retail and institutional) which is one of the world's leading investment management centres.
- Our role is to represent the interests of the asset management industry to government and regulators both in the UK and internationally.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.