30% Club

The 30% Club is a campaign group of Chairs and CEOs taking action to increase gender diversity on boards and senior management teams. It was established in the United Kingdom in 2010 by Dame Helena Morrissey with the aim of achieving a minimum of 30% female representation on FTSE 100 boards. That target was reached in September 2018. The Club now also has chapters in Australia, Brazil, Canada, East Africa, GCC, Hong Kong, Ireland, Italy, Japan, Malaysia, Southern Africa, Turkey and the United States. In 2015 Brenda Trenowden was appointed as the new lead for the UK chapter and as Global Chair of the campaign, reflecting its increased reach and scale since launch. As of June 2019, the leadership structure of the campaign further evolved in response to its ongoing success and international influence, with Ann Cairns joining as Global co-Chair of the campaign [1]. The Club continues to expand its global footprint and has exceeded its original UK goal, with 32.5% women sitting on FTSE 100 Boards as at September 2019.

The approach

The 30% Club adopts a collaborative, business-led approach - it does not believe in mandatory quotas and supports a voluntary approach aimed at realizing meaningful, sustainable change. The campaign's efforts are complementary to individual company efforts and existing groups, adding to these through measurable goals, collaboration and the visible and voluntary commitment of senior business leaders. The campaign focuses on amplifying the business case for gender diversity which evidences that diverse teams make better decisions (e.g. McKinsey & Company research of 180 publicly traded companies found ROEs were 53% higher for companies ranking in the top quartile of executive board diversity than those in the bottom quartile [2]. Similarly Credit Suisse found that companies where women made up at least 15% of senior managers had more than 50% higher profitability than those where female representation was less than 10% [3]).

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References
  1. "Mastercard's Cairns expands horizons at helm of 30% Club". Financial Times.
  2. Thomas Barta, Markus Kleiner and Tilo Neumann. "Is there a payoff from top-team diversity?". Mckinsey.com. McKinsey.
  3. "Higher Returns with Women in Decision-Making Positions". credit-suisse.com. Credit Suisse.
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