London: PwC's Senior Partner, Ian Powell, has become the thirtieth Chairman to sign up for the 30% Club, a group of organisations voluntarily committed to bringing more women on to UK boards.
The 30% Club aims to improve the representation of women on boards by inspiring leaders to appoint more women to executive and non-executive director roles.
Ian Powell, PwC Chairman and Senior Partner commented: "Increasing board diversity is essential: having a better gender balance positively influences our culture and our decision making processes. With an almost even number of women and men entering our training schemes, it is important that this balance continues to be reflected at all management levels.
"Our diversity — and increasing diversity at all levels of our organisation — gives us a competitive edge. It helps us think differently, innovate and spot new opportunities which will help us deliver against our growth targets and overall business strategy. Signing up to the 30% Club is not about ticking a box — it is critical to the firm's success."
Gaenor Bagley, Head of People agrees: "Diversity is crucial to our growth strategy and we intend to introduce and monitor diversity targets at all levels across our business. We recognise that it will not happen overnight but it is critical to put in place the right mechanisms that will help drive greater diversity."
On average, FTSE 100 companies have 14% female representation on their boards. PwC in the UK currently has 18% female representation with Gaenor Bagley and Stephanie Hyde occupying two of the 11 board roles.
Lloyds, Centrica, Anglo American, Barclays and John Lewis have also joined the 30% Club which aims to meet their goal of 30% female representation by:
- inspiring company leaders to appoint more women to executive and non-executive directorships
- improving the pipeline below board level, to widen the talent pool available to business, and
- supporting and encouraging successful women in business.