Glencore Last Bastion of Men-Only U.K. Board on Antofagasta Hire
Glencore Xstrata Plc (GLEN) is the last man standing for all-male boards at FTSE-100 companies after fellow mine operator Antofagasta Plc hired Vivianne Blanlot.
“The appointment of a female board member is a significant consideration and our Nominations Committee is working to identify the right female candidates,” a Glencore spokesman said in an e-mailed response to questions.
While the U.K. says it wants more women directors, a government-commissioned study led by former Standard Chartered Plc Chairman Mervyn Davies recommended a 25 percent goal by 2015 rather than quotas. Swedish Finance MinisterAnders Borg said in February the country would consider forcing boards to appoint more women after voluntary programs failed.
Capita Plc and Diageo Plc have the highest proportion of women on their boards, with just over 44 percent, while 36 companies on the FTSE-100 have reached the 25 percent target, a report by Cranfield School of Management showed on March 26.
The level of women on FTSE-100 boards was 20.7 percent, up from 17.3 percent last year, according to the Cranfield report. In February last year there were seven companies with only male directors.
Women make up 24 percent of Swedish boards, according to an index by Statistics Sweden measuring 231 publicly traded businesses.
Antofagasta shared the distinction of a man-only board with Glencore, the biggest exporter of thermal coal, before today saying Blanlot would become a non-executive director.
Glencore Chief Executive Officer Ivan Glasenberg said this month the company was seeking a female board representative.
Peter Grauer, the chairman of Bloomberg LP, the parent of Bloomberg News, is a non-executive director of Glencore Xstrata.
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