Britain's top listed and private companies on Monday were called on to meet broader voluntary targets for appointing ethnically diverse board members and senior staff by 2027.
"There’s still more to do however, and the Parker Review’s recommendations clearly set out how companies must improve diversity from top to bottom in the coming years, so they can make the most of untapped talent available and ensure British boardrooms are truly reflective of British society," business minister Nusrat Ghani said in a statement.
The new targets call on each of the top 350 listed companies to also set a percentage target for senior management positions by December 2027. In addition, 50 of the largest unlisted companies, such as law firm Allen & Overy, auditor Deloitte, retailer John Lewis Partnership, Virgin Atlantic and Thames Water have been asked to have at least one ethnic minority director by December 2027.
"We have long argued that companies benefit from ensuring that succession planning and management development plans include the development of ethnic minority executives," committee chair David Tyler said.
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