Diverse boards lead to better corporate culture

In 2020, 59% of FTSE 350 companies did not meet the target set by the Parker Review of having at least one director from an ethnic minority background.

When questioned about diversity, many respondents said that individual diversity or diversity of thought rather than demographic diversity was the most top-of-mind and valued aspect of diversity in the boardroom, including functional diversity.

Progress on board diversity has been slow and the latest diversity report from the Financial Reporting Council (FRC) and London Business School highlights a number of ways companies can work on improving representation.