International executive search firm Fidelio Partners has waded into the debate over quotas for female non-executive directors, saying the idea there is a lack of sufficiently experienced women is “nonsense”.
In an update, the firm said: “We fully recognise that a non-executive directorship of a large complex company is not to be undertaken lightly.
“All board members should have a high degree of financial literacy and a good understanding of the business. But it is surely counterproductive for every non-executive director to share this profile.”
Good governance requires “sound judgement, independence of perspective, the ability to question and challenge to good effect, and the skills of influence and persuasion”, according to Fidelio.
“There is no shortage of senior women who meet these requirements,” it stated, highlighting that suitable candidates can be found in “major corporate roles”, including corporate affairs directors, marketing directors and finance directors.
It also pointed out that suitably qualified women work in consulting or advisory roles – for example, they might be partners with leading law firms or strategy consultancies. Furthermore, high-profile charities and membership organisations can produce candidates with very relevant experience, while academics in disciplines related to the core business of the company can make good non-executive directors.
But, Fidelio, noted: “This conclusion does not obviate the need to improve the pipeline of senior women in executive roles. Much remains to be done and we recognise the answers are not simple.” It raised concerns about the lack of women who study “heavy-duty subjects that are highly prized in business”, highlighting that statistics compiled by the UK’s Women’s Engineering Society in February 2014 indicate that just 7% of professional engineers are female. “There is little evidence that these ratios are improving,” it said.
Sally Percy is editor of The Treasurer