Women Reach 43% of FTSE 350 Board Roles in 'Transformational' Change
Britain has experienced a "transformational" change in gender diversity, with women now occupying 43 per cent of board positions across FTSE 350 firms. This marks a significant increase from just 9.5 per cent in 2011, according to the latest findings.
Progress in Board Diversity
The FTSE Women Leaders Review, a government-backed programme sponsored by KPMG UK and Lloyds Banking Group, reveals that 92 per cent of FTSE 100 firms and 88 per cent of the FTSE 350 have achieved or are approaching the 40 per cent women-on-boards benchmark. Additionally, Britain has officially achieved gender balance for non-executive director (NED) positions, with women filling 49 per cent of these roles at FTSE 350 firms.
Within the private sector, 78 per cent of Britain's 50 largest firms are at or nearing the 40 per cent leadership benchmark. Where a mandatory quota system exists, Britain ranks second in the G7 for board diversity, trailing only behind France.
Challenges at Executive Level
Despite these advancements, additional progress is required to replicate this success in executive leadership. Women's representation remains low in crucial executive board positions, particularly in roles such as chair and chief executive.
Chancellor of the Exchequer Rachel Reeves commented, "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."
Looking Ahead
The review underscores that while Britain has made remarkable strides in board diversity, the focus must now shift to executive leadership roles. Continued collaboration between government, businesses, and investors is essential to drive further change and ensure gender equality across all levels of corporate leadership.
