LGIM to vote against FTSE 350 boards with below 25% female representation

Voted against 37 board chairs in 2017 on poor diversity

Natalie Kenway
clock • 3 min read

Legal & General Investment Management (LGIM) is to begin voting against the chairs of boards of FTSE 350 companies if they do not have at least 25% female representation at board level.

In its annual Corporate Governance report, the firm said overall it had increased its votes against management last year, opposing the reappointment of 2,807 company directors and voted against at least one resolution at 59% of companies in a bid to promote positive change in issues such as climate change, diversity, long-term strategy and shareholder rights. Within this it voted against 37 board chairs or chairs of nomination committees in the UK due to poor diversity, the highest number since 2015. LGIM also voted against all-male boards for the first time in S&P 500 companies, on b...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

Why it's finally time to sing a different song about UK equities
UK

Why it's finally time to sing a different song about UK equities

UK equity income funds returned an average of 4.8% in the first 15 weeks of 2025

Sid Chand Lall
clock 13 June 2025 • 4 min read
OECD tells chancellor that efforts to cement 'thin' fiscal buffers should be 'stepped up'
UK

OECD tells chancellor that efforts to cement 'thin' fiscal buffers should be 'stepped up'

UK GDP forecasts also revised downwards

Linus Uhlig
clock 04 June 2025 • 1 min read
IMF urges chancellor to 'refine' fiscal rules as it upgrades UK's economic outlook
UK

IMF urges chancellor to 'refine' fiscal rules as it upgrades UK's economic outlook

To cut down on policy changes

Linus Uhlig
clock 28 May 2025 • 2 min read