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ENDNOTES
1. The Female FTSE Report is independently calculated by its authors. The Female FTSE Report is
not in any way sponsored, endorsed, sold or promoted by FTSE International Limited (“FTSE”),
the London Stock Exchange (“the Exchange”), The Financial Times (“FT”) (together the “Licensor
Parties”) and none of the Licensor Parties makes any claim, predication, warranty or representation
whatsoever, expressly or impliedly in relation to the Female FTSE Report or related material. FTSE®
is a Trade Mark of the Exchange and the FT and is used by FTSE under licence. Cranfield School of
Management has been licensed as a Trade Mark by FTSE for use in the Female FTSE Report and
related material.
2. The ’25 by 25’ initiative was launched by Egon Zehnder in 2014. The firm believes that the ambition
to have 25 female chief executives of FTSE 100 companies by 2025 is achievable if one in six of new
CEOs appointed over the next decade to the FTSE 100 are female, averaging three a year.
3. Vinnicombe, S., Doldor, E., Sealy, R., Pryce, P. & Turner, C. (2015) “The Female FTSE Board Report
2015: Putting the UK progress into a Global Perspective.”
4. Davies (2015) “Improving the Gender Balance on British Boards: Women on Boards Davies Review
Five Year Summary October 2015.”
5. Terjesen, S. & Sealy, R. (2016) “Board Gender Quotas: Exploring Ethical Tensions From A Multi-
Theoretical Perspective”, Business Ethics Quarterly, vol. 26, no. 1, pp. 23-65.
6. Davies (2015) “Women on Boards Davies Review: Five Year Summary.
7. Vinnicombe, S., Doldor, E., Sealy, R., Pryce, P. & Turner, C. (2015) “The Female FTSE Board Report
2015: Putting the UK progress into a Global Perspective.
8. Equality and Human Rights Commission (2016) “An inquiry into fairness, transparency and diversity
in FTSE 350 board appointments.”
9. Equality and Human Rights Commission (2014) “Appointments to Boards and Equality Law.”
10. Terjesen, S. & Sealy, R. (2016) “Board Gender Quotas: Exploring Ethical Tensions From A Multi-
Theoretical Perspective”, Business Ethics Quarterly, vol. 26, no. 1, pp. 23-65.
11. Employer’s Network for Equality and Inclusion (2015) “Board Diversity - Targets vs quotas.”
12. Coleman, J., Marinez, C., Rohsler, E., Turnbull, J. (2013) “Board minimum quotas for women: Where
would male gender discrimination start?” Discrimination and Equality Law Committee Newsletter,
International Bar Association.
13. Workplace Gender Equality Agency (2013) “How to set gender diversity targets: Guidelines for setting
and meeting targets to increase gender diversity in the workplace”, Commonwealth Government of
Australia.
14. Employer’s Network for Equality and Inclusion (2015) “Board Diversity - Targets vs quotas.”
15. Doldor, E., Sealy, R. & Vinnicombe, S. (2016) “Accidental activists: Headhunters as marginal diversity
actors in institutional change towards more women on boards”, Human Resource Management
Journal (in press).
16. VirginMoney (2016) “Empowering Productivity.”
17. Vinnicombe, S., Doldor, E. & Turner, C. (2014) “The Female FTSE Board Report 2014: Crossing the
Finish Line.”
18. VirginMoney (2016) “Empowering Productivity.”