The old-boys’ club makes room for female intuition

In a business world dominated by men, female retail executives are big news at the moment. However, given that women have a better intuitive grasp of retail, there is still a lack of diversity on most retail boards. Liz Morrell asks why this is happening.

Earlier this month, the replacement for WHSmith chief executive Richard Handover was announced. Internal candidate Beverley Hodson, head of UK retail, was passed over in favour of Kate Swann, who is expected to join the retailer from Argos towards the end of the year.

Both women stand out as talented, high-profile female executives in a retail world largely dominated by men. But why is it still so unusual for women to be in the picture for a top job? Swann, who has steered the incredible turnaround of Gus’ Argos division, will become one of only three FTSE 250 female retail chief executives, alongside Debenhams’ Belinda Earl and Burberry’s Rose Marie Bravo.

Often dogged by the usual clichés about working mothers, such woman have shown that they can successfully run top retail companies.

Ann Summers chief executive Jacqueline Gold agrees and says these women are role models for other female executives in retail companies hoping to gain the skills, experience and contacts that will help them make it to the retail board. “With Belinda Earl at Debenhams, and the recently-appointed Kate Swann at WHSmith, I think this is a great sign and example for other women, particularly as both have children,” she says.

However, a survey of 22 FTSE 250 and FTSE 100 retailers by board director search and recruitment company Directorbank shows only 23 females on those boards out of about 200. Many have no women at all on the board and none have more than two.

While the female to male ratio in retail boards is relatively high for industry as a whole, Directorbank argues that retailers should still be looking to have a broader diversity of directors. “The balance is still predominantly male,” says a spokeswoman for the company. The Higgs Report released earlier this year included recommendations that there should be a broader “gene pool” of company directors.

Ann Summers’ Gold says women also have an obvious advantage within retail companies – sexist as it may at first appear. “Women have a better retail instinct,” she says. Louise Barnes, chief executive of fashion retailer Fat Face agrees. “There are more opportunities for women because it’s an industry women respond to emotionally,” she says.

Hilary Riva, managing director at Rubicon Retail – which includes fashion retailers Warehouse and Principles, says women are coming through the ranks, and that you only need to look at the number of female brand directors and senior managers in the likes of Arcadia to see the board directors of tomorrow.

TopShop brand director Jane Sheperdson is just one of those predicted to be a board director of the future and Riva says there will be many more. “There was a generation of men in senior management and they’ve moved onto the board so women will come through. It’s not a feminist issue, just a timing issue,” she says.

Allders Chief Executive Terry Green may not have any women on his existing board, but he says that isn’t deliberate and that nearly half of his management board are women. “70 to 80 per cent of the purchases on the high street are made by women, so it’s important to bring a woman’s perspective to retail,” he says.

But Green stresses that promotions to the board should only be made on merit, rather than simply gender. “Maybe a glass ceiling did exist in the past. I don’t think women were given a chance if a man could get there first. However, if a woman wants to make it their career choice they can,” he says.

Swann, Earl and many other female retail board directors have already proved that point – it is now up to others to follow their lead.

Tips for the Top for Female Executives

• Ensure people around you know your ambition
• Make a fuss if overlooked and don’t worry about moving
• Find a mentor and supporter in the company
• Avoid jobs like HR and IT which don’t tend to reach board level
• Don’t be afraid to ask for help

Source: Directorbank