Headhunters could face the prospect of losing business if they fail to sign up to a code of conduct aimed at raising the number of women on company boards in a crucial government-commissioned review into the glass ceiling...[P]articipants in the review say a key recommendation will ask chairmen not to use headhunters who refuse to publish the proportion of women they place on boards...Lord Davies is said to be “impatient” with headhunters’ reluctance to take a lead, for example, by offering support and training for women candidates who do not come from corporate life but from charities and public sector roles...Some executive search firms are already working on proposals that could form the basis of a code, believing that there could be an advantage in making the first moves rather than leaving them to critics. Other headhunters argue that the industry is being unfairly targeted when the ultimate responsibility for board appointments lies with company nomination committees.