Record number of women appointed to FTSE 350 boards
The UK has seen a “transformational” shift in gender diversity, with women now holding 43 per cent of board roles across FTSE 350 companies, a leap from just 9.5 per cent in 2011.
The FTSE Women Leaders Review, a government-backed initiative sponsored by KPMG UK and Lloyds Banking Group, revealed that 92 per cent of FTSE 100 companies and 88 per cent of the FTSE 350 have met or are nearing the 40 per cent women-on-boards target.
The review also revealed that the UK has officially reached gender balance for non-executive director (NED) roles, with women occupying 49 per cent of these positions at FTSE 350 companies.
In the private sector, 78 per cent of the UK’s 50 largest companies are at or near the 40 per cent leadership target.
However, further progress is needed to replicate this success in executive leadership, where women’s representation remains low in key executive board roles, particularly the chair and CEO.
Where a mandatory quota system is in place, the UK ranks second in the G7 for board diversity, trailing France.
Reeves: There should be no ceiling on women’s ambition
Commenting on the results, Chancellor Rachel Reeves said, “This report shows how far we’ve come.
“But there is still a long way to go as women remain under‑represented in key executive roles.
“As Chancellor, I’m clear there should be no ceiling on a woman’s ambition. When they can participate fully at every level, organisations make better decisions, innovate more and perform more strongly, boosting our whole economy.”
Business Secretary Peter Kyle added, “We continue to work with business leaders and investors to unlock opportunities for women and ensure the UK economy is firing on all cylinders while being competitive as it can be.”
“However, be in no doubt that despite this progress, there is still much more work to do. We continue to work with business leaders and investors to unlock opportunities for women and ensure the UK economy is firing on all cylinders while being competitive as it can be.”