1 March 2012—The European Round Table of Industrialists has announced a cross-industry initiative aimed at stimulating increased participation of women on boards. Participating companies will work with Spencer Stuart and two other search firms to promote the placement of women in non-executive and supervisory board positions.
By bringing Europe's highest performing female executives to the attention of forward-looking chairmen, ERT and its partners hope to make a significant difference to international boards at a time when diversity is accepted not just as desirable, but as a critical competitive advantage. We are moving beyond the debate about diversity to the next stage: action and progress.
Commenting on this three-year pilot initiative, Carlo Bozotti, CEO and President, STMicroelectronics and Chairman, ERT Societal Changes Working Group says:
“Greater diversity in organisations, including more women, leads to higher performing teams and better business results. We believe that having more women throughout the talent pipeline gives us a competitive advantage and is essential for the prosperity of the European region.”
Spencer Stuart’s Board & CEO Practice is committed to supporting chairmen and nomination committees as they take steps to increase the proportion of women on their boards across Europe.