The Board Diversity & Inclusion Policy (‘the Policy’) sets out the approach Standard Chartered PLC takes to diversity on its Board to ensure that diversity, in its broadest sense, remains a central feature of the Board. The Policy applies to the Board of Standard Chartered PLC. The Global Diversity & Inclusion Standard applies to diversity in respect to all employees.
We have a distinctive footprint and international outlook and a long history of diverse board membership. All Board appointments and succession plans are based on merit with each candidate assessed against objective criteria, with the prime consideration of maintaining and enhancing the Board’s overall performance in addition to promoting diversity, inclusion and equal opportunity.
We strive to maintain a diverse Board recognising the benefits of having a Board made up of individuals with a diverse mix of characteristics including, but not limited to, gender, social and ethnic backgrounds, knowledge, personal attributes, skills and experience. We strive to reflect the Group’s aspirations in relation to its employees and its values and to position the Group as a global leader in these areas. We believe diversity provides a mix of perspectives which will contribute to the effective Board dynamics.
In order to enhance the Board’s diversity we are committed to:
- at least 40 per cent female representation on the Board;
- at least one senior position on the Board being held by a woman;
- at least 30 per cent from an ethnic minority background on the Board;
- ensuring that our Board reflects the diverse markets in which we operate;
- ensuring that the Board is comprised of a good balance of skills, experience, knowledge, perspective and varied backgrounds;
- ensuring that we consider the Group’s aspirations in relation to disability, sexual orientation, gender identity and gender expression;
- only engaging search firms who are signed up to the Voluntary Code of Conduct for Executive Search firms;
- monitoring progress against the commitments in this Policy as part of the oversight of the balance of skills, knowledge, experience and diversity on the Board and succession planning for appointments to the Board;
- reviewing this Policy annually to ensure its effectiveness and alignment with best practice, the UK Corporate Governance Code and any other relevant legislation and/or regulation; and
- reporting annually on the diversity of the executive pipeline as well as the diversity of the Board, including progress being made on reaching the Board’s gender and ethnicity commitments.
