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Livingbridge launches industry-first programme in bid to improve board diversity at private equitybacked companies
Livingbridge , a leading mid-market private equity ( PE ) firm , announced the launch of The Future Board Leaders Programme . Its inaugural cohort commenced the programme in September .
The initiative will support established business leaders from a diverse range of backgrounds to transition into non-executive careers advising PE-backed companies – a career path that demands different skillsets and approaches to those required on FTSE 100 boards .
Livingbridge is launching the initiative in a bid to tackle unacceptably low board diversity at PE-backed companies .
The firm has over 25 years ’ experience supporting 170 + companies and knows that diverse and inclusive boards deliver improved decision-making and stronger financial performance . It has developed The Future Board Leaders programme as a proactive solution that can tackle PE boards talent pipeline issues and raise awareness of the opportunities presented by joining a PE-backed company board .
The three-month programme will give leaders the knowledge and skills to become highly effective board members and become part of the PE NXD network .
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 . Despite making efforts to improve diversity on its portfolio company boards , Livingbridge still frequently sees 3 – 5 % metrics .
Summer 2024 sees a boom in digital payments in the UAE and Saudi Arabia
Consumers ’ preferences for digital payment methods have deepened over the summer period in the UAE and Saudi Arabia , according to new data from global payments solution provider , Checkout . com . The company ’ s latest analysis highlights a rise in unique online shoppers , the growing popularity of Buy Now , Pay
Later ( BNPL ) options and increased consumer confidence in key industries such as travel .
The MENA region ’ s overall embrace of digital commerce has been well documented , with earlier Checkout . com data showing a 56 % increase in consumers engaging in e-commerce weekly since 2020 . Moreover , this summer ’ s analysis reveals a 26 % year-on-year rise in the number of unique cards used for online purchases in the UAE and Saudi Arabia between July and August , suggesting that more people are going online for purchases . This underscores the unmistakable demise of cash as the region ’ s preferred payment method , with the preference for cash dropping to as low as 10 % among the population in the UAE and Saudi Arabia .
Meanwhile , the summer period witnessed a surge in the adoption of Buy Now , Pay Later ( BNPL ) services among consumers . The use of BNPL payments in the UAE and Saudi Arabia skyrocketed by 200 % between July and August compared to the same period in 2023 . This growth – evident in transactions processed by Checkout . com for merchants like Tamara and Tabby – underscores consumers ’ increasing demand for flexible payment plans and why merchants can no longer afford to miss offering this rapidly growing finance option to their customers .
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