FTSE100 changes and the social network impact

ftselogoEvery three months FTSE (the people who co-ordinate the various stock exchange indices) review the constituent members of the FTSE100 and FTSE250 and then make changes based on the current market view. You can find out more about that process here.

Yesterday saw the December review announced. Here’s what we think that means from the #socialCEO perspective.

Departures

Chemical company Croda International manage corporate presence on both Twitter and LinkedIn, and CEO Steve Foots is one of the minority of senior CEOs who uses LinkedIn. He was kept out of the #socialCEO Top Ten on the basis that he doesn’t have a personal Twitter account. 

Mining group Vedanta also manage their presence across Twitter and Linkedin, but Chief Executive Mahendra Mehta has no social presence at all at a personal level.

Arrivals

Plant hire firm Ashtead Group is a stereotype of old school engineering – they just about manage a website, but have no corporate managed presence on either LinkedIn or Twitter. Unsurprisingly, neither does their CEO Geoff Drabble.

Newly floated Royal Mail Group do have extensive presence on Twitter, and also actively manage their corporate brand on LinkedIn. Canadian head Moya Greene, however, joins the worryingly long list of communications sector CEOs who have no social network engagement.

Conclusions

Whilst the market capitalisation of the FTSE100 might have grown as a result of these constituent changes, the replacement firms have actually made the boardrooms of the top UK companies slightly less social networked places. With Ashtead now entering the corporate limelight, they may well start to up their game at a corporate PR level – but we yet again sound concern at TMT-sector heads (along with those at Vodafone, ITV, Pearson, Reed Elsevier, Sage and Sky) not engaging with social networks in a work context.

stamp London’s quarterly #socialCEO Report is next published in January.  You can find October’s edition here, and to receive your copy direct by email, just complete this form.

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