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Our questions at AGMs continue: today at Lloyds in Edinburgh

(14.05.2015) EWSDGE welcomes the statements made by Lloyds concerning all the wonderful initiatives to increase female representation, including: the 30 % club, the mentoring and leadership schemes, the measures for the development of the talent pipeline, and the Times Top 50 Employers for Women in 2013 and 2014, yet there are 10 male board members (7 non-executive, 3 executive), and only 3 female board members (all non-executive), according to the 2014 Annual Report. This represents 23%, short of the 25% target set by the Davies review. ‘What is going wrong with the system in Lloyds?’ will be one of the questions posed by Professor Jackie Jones, UK and Ireland Coordinator. In addition, Professor Jones will ask the Chair of Lloyds:

  1. Concerning plans for executive posts and how these posts will be incorporated into any new targets the company is planning; and
  2. What is being done to correct the system?

Professor Jones said, ‘We welcome Lloyds’s commitment to gender parity and look forward to hearing their future plans for further increasing the representation of women on their Board. With so many schemes in place, Lloyds is to be commended, but why is it not yielding better results?’

BACKGROUND

Initiated by the German Women Lawyers Association (djb), the project “European Women Shareholders Demand Gender Equality” was awarded a grant in 2014 by the European Commission (together with 16 other European projects) under the PROGRESS program. It is co-funded by the Federal Ministry for Family Affairs, Senior Citizens, Women and Youth (BMFSFJ), the Ministry for Justice and Equality of Saxony-Anhalt and the Finland Chamber of Commerce.

The project partners include, along with the djb, the four women lawyers organizations, European Women Lawyers Association (EWLA), EWLA Bulgaria, Association Française des femmes juristes, (AFFJ), Hungarian Women (Advocate) Lawyers Association, the Finland Chamber of Commerce and the University of West of England. The Ministry for Justice and Gender Equality of Saxony-Anhalt is hosting the closure event and the Magdeburg-Stendal University of Applied Sciences is responsible for evaluation.

The project connects with the German project “Women shareholders demand equality – Increase the number of women in management positions, especially on Supervisory Boards of German listed companies”, funded by the Federal Ministry for Family Affairs, Senior Citizens, Women and Youth (BMFSFJ) and continues throughout Europe. In the course of the German project from 2009 to 2013 djb members as well as other shareholders have attended 300 annual general meetings of listed companies exercising their information right. The answers from the Supervisory and Executive boards to all questions on women in management position in the companies have been analysed and published in four studies.

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