Women now occupy 43% of the roles on the boards of top UK companies, and 35% of leadership positions, the latest FTSE Women Leaders Review has found.
Published by the UK government and backed by Lloyds Banking Group and KPMG, the report states that more than 60% of FTSE 350 companies are now ‘within striking distance’ of the 40% target for women’s representation in boardrooms.
The number of women on boards and in leadership positions has increased year-on-year, with equal opportunities for women forming part of the UK government’s Plan for Change.
‘Break down the barriers’
“The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels,” commented UK chancellor of the exchequer, Rachel Reeves.
“We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.”
According to the report, the number of female chairs at FTSE 350 companies increased from 53 in 2023 to 60 in 2024, while the number of female senior independent directors rose from 162 to 192, covering more than half of FTSE 350 firms.
The number of female finance directors increased from 48 to 57, however the number of female CEOs decreased slightly – from 20 to 19.
Gender equality
Gender equality at board level in the UK is one of the highest among the G7 nations, the report states, with only France (45.4%) ranking higher. While other countries (including France) employ quota systems, UK firms have taken ‘entirely voluntary’ actions, it added.
“In an increasingly disruptive world in which companies are faced with a combination of economic, geo-political and technological change British businesses are setting an international standard for balanced and inclusive leadership,” added Vivienne Artz, CEO of the FTSE Women Leaders Review.
Artz added that while increasing numbers of FTSE 350 company boards are now gender-balanced, “sustained effort and determination is required to achieve the 40% target for women in leadership by the end of this year.
“We look forward to working with businesses to deliver on this ambition.” Read more here.
