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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/women-on-boards-must-rise-by-2013.jpg"><img class="alignnone size-full" title="Lord Davies is expected to recommend that a fifth of all board members be women by 2013" src="http://londonglossy.com/wp-content/uploads/2011/02/min-women-on-boards-must-rise-by-2013.jpg" alt="Lord Davies is expected to recommend that a fifth of all board members be women by 2013"/></a></p>
<p>Companies are to be given two years in which to increase the number of women they have on their boards or they could face government quotas, it has emerged.</p>
<p>Former trade minister Lord Davies of Abersoch is expected to call for a fifth of FTSE 350 board members to be women by 2013, rising to a quarter by 2015, when he releases his report on the issue this week. However, it is thought he will stop short of calling for quotas to be introduced unless the voluntary measures fail, after finding a lack of support for the measure.</p>
<p>Instead, head-hunters and shareholders will be expected to sign up to a new code of conduct, and chairmen will be urged to be more adventurous when appointing non-executive directors, with head-hunting agencies asked to provide more diverse shortlists.</p>
<p>It is thought Lord Davies, was commissioned by the Government to investigate why so few women were on the boards of UK companies last year, will also call for more women to be promoted to executive committees to ensure there is a larger pool of talent from which female non-executive directors could be recruited.</p>
<p>Women currently account for only 12.5% of directors of FTSE 100 firms, and based on current trends it is thought that it would take 70 years before women held half of all posts at blue chip companies.</p>
<p>The situation is even worse in the FTSE 250, with only 7.8% of board posts filled by women, while half of firms have no female board members at all, according to Cranfield School of Management. Last year only 18 out of the 135 new non-executive directors who were appointed were women.</p>
<p>Other measures which are likely to be put forward include encouraging companies to publish their own targets on appointing women, and if they fail to meet them, they would have to explain why this was the case to shareholders.</p>
<p>Lord Davies found little support for imposing quotas on companies, with just 11% of respondents saying they thought it was a good idea. However, Prime Minister David Cameron is expected to warn that the Government will impose a quota, backed by legislation, if firms do not appoint more women.</p>
<p>Meanwhile, the Association of British Insurers (ABI), one of the UK&#8217;s biggest shareholder groups, announced that it was going to begin reporting how many women were on FTSE boards. The group said it would make the figures part of its Institutional Voting Information Service, which should increase the pressure on chairmen to appoint more women.</p>
<p>Maggie Craig, acting director general of the ABI, told the Sunday Telegraph: &#8220;This will allow investors to challenge boards on diversity and after a year we will be able to report back on what we have found.&#8221;</p>
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