Mid-market private equity firm Livingbridge has created The Future Board Leaders Programme, a new initiative aimed at improving boardroom diversity, after routinely seeing just 3-5% diversity metrics on portfolio company boards.
Data analysis of more than 3,700 PE-backed portfolio companies shows that, in 2022, the average female Board representation was just 13%. While a 2022 sample of over 1,200 PE-backed companies found the average Board representation of underrepresented groups was negligible.
The initiative will help established business leaders transition into non-executive careers advising PE backed companies – a career path that demands different skill sets and approaches to those required on FTSE 100 Boards.
Over 25 years supporting more than 170 companies, Livingbridge has seen that diverse and inclusive Boards deliver improved decision-making and stronger financial performance, and has established the Future Board Leaders in a bid to build the next generation of diverse Board Chairs.
The three-month programme, launching in September will be offering mentorship, strategic insights, and network-building support for senior business executives.
The inaugural cohort will commence the programme on the 16 September, with participants dedicating around one day per month. As well as mentorship from experienced Chairs and support in building a wealth of contacts, the programme will also feature seminars and coaching sessions with leadership development experts, and leaders will have the opportunity to become a shadow Board member of a high-performing PE-backed company.
In addition, to ensure that Board members arrive prepared from day one in their roles, the programme will provide strategic and practical insight on everything from the core principles of an effective board, to identifying, qualifying and securing opportunities best-suited to participants’ individual skills and experience.
The initiative has already received backing from Murray Steele (Octopus Apollo VCT), Niall Wass (Wob, Vay, Jobandtalent, Moonpig) and David Amos (serial CFO) who will be among those offering strategic insights and network-building support for senior executives on the programme.
