The Parker Review has recently published its final report into ethnic minority representation at the highest level in UK companies. The report urges businesses to improve the ethnic and cultural diversity of their boards in order to better reflect the modern day communities in which they operate.
Led by Sir John Parker, former chairman of one of the world’s largest mining companies, the Parker Review carried out an industry led assessment into ethnic diversity. This followed a similar review into gender diversity carried out by the earlier Davies Review.
The report acknowledged that progress has been made in terms of gender diversity but found that boards still do not reflect the broad range of stakeholders they seek to engage and represent. Based on the analysis contained in the Review, some companies already maintain a diverse board: Fresnillo PLC and Antofagasta PLC, for example, both have boards of which 70% are ethnic minorities. However, some large companies, such as EasyJet and Sky, do not have any ethnic minorities on their respective boards.
The Parker Review wants UK companies to remain competitive, global leaders and highlights that greater diversity can be a means of benefitting from wider experience, expertise and thought.