In 2011, only 12.5 per cent of directors of FTSE 100 Boards and 7.8 per cent of directors of FTSE 250 Boards were women. Moreover, only 32 per cent of FTSE100 companies disclosed the number of women directors on their Boards. The business case for gender diversity on boards relates to four key dimensions: improving performance, accessing the widest talent pool, being more responsive to the market and achieving better corporate governance. In February 2011, Lord Davies produced his report on Women on Boards, in which he made ten recommendations on how to increase the number of women on the Boards of FTSE 350 companies.
The Davies Report (2011: 2) stressed that: "Government must reserve the right to introduce more prescriptive alternatives if the recommended business-led approach does not achieve significant change."