The successful FTSE 100 Cross-Company Mentoring Programme this month (October) morphed into the Mentoring Foundation, a not-for-profit organisation headed up by the programme’s original founder, Peninah Thomson.
Thomson said: “The Programme’s success, its recent extension to cover FTSE 350 companies, and the increased demand for female directors following the publication of the Davies report earlier this year, oblige us to step up a gear and establish the Programme on an independent footing.”
The Davies report recommended, amongst other things, that chairmen of FTSE 350 companies set targets for women on their boards and executive committees by the end of August 2011, and aim for at least 25% female representation on their boards by 2015. Also this month (October), Cranfield School of Management published a six months’ progress report. Some 22.5% of new appointments to FTSE 100 boards are female, representing an increase to 14.2% of female representation, up from the 12.5% historical high. See http://bit.ly/gnfjQm
The Mentoring Foundation will be supported by an advisory council consisting of FTSE 100 chairmen and will no longer be sponsored and managed by its founders, Praesta Partners. Praesta partner Thomson has been seconded to act as chief executive of the foundation until March 2012 after which she will transfer full time.
The FTSE 100 Cross-Company Mentoring Programme was launched in 2003 and has been emulated in 12 other countries. More than 70 female executives have been or are being mentored by 45 chairmen and chief executives under the Programme, and 59 of the mentees have subsequently achieved non-executive or executive directorships or other significant appointments.