Why does board diversity matter?

    Studies have established that there is a correlation between diversity and companies’ financial performance. In 2018, McKinsey’s report stated: “Diverse companies are 33% more likely to have greater financial returns than their less-diverse industry peers.” (Source Harvard Law School Forum on Corporate Governance)

    Having a diverse board in place can expand the knowledge, experience and insight that go into a company’s decision-making, therefore creating a more innovative organisation which ultimately leads to both an improved corporate culture and corporate growth.

    Hence why I am proud to be a member of Changing the Chemistry (CtC), a peer support network seeking to improve board effectiveness and quality by increasing diversity of thought in boardrooms and beyond.

    During my time as a Board member, I sometimes struggled to find suitable networks to support me in my role. So, I am delighted to have stumbled across CtC and to have the privilege to meet some inspiring individuals where we can continue to learn and share experience in a safe, professional environment.

    Some useful facts about CtC…

    • CtC has over 650 members across the UK
    • Over 290 board roles have been filled by members of CtC
    • With 33 members who have been made board chairs
    • CtC itself has a diverse board of 10 individuals.

    #CtC10Years; #10YearsofSuccess #LookingToTheFuture