UK Sees Transformational Shift in Gender Diversity on FTSE 350 Boards

• Women currently occupy 43% of board positions in FTSE 350 companies, compared to 9.5% in 2011
• The FTSE Women Leaders Review tracks the progress of gender diversity
• The project is supported by the government and KPMG UK and Lloyds Banking Group

There has been an enormous shift towards gender diversity at the upper levels of UK corporations. Currently, women hold 43 percent of board positions with FTSE350 companies, compared to only 9.5% of this position in 2011.

The FTSE Women Leaders review which the government supports through initiatives with KPMG UK and Lloyds Banking Group-checked whether or how many companies within the FTSE100 and FTSE350 have met or come close to meeting the 40 percent of women on boards target indicates 92 percent of FTSE100 and 88 percent of FTSE350 companies have either achieved or are on track to achieving their goal of 40 percent.

Further, the review demonstrates that we now have 50/50 participation (NED roles are 49 percent female) for females throughout the board into FTSE 350 companies.

In the private sector, 78 percent of the top 50 private UK companies have achieved and are within a hair’s breadth of achieving their 40 percent goal for women in leadership positions.

While this progress is noteworthy, sections of executive positions (chair, chief executive officer) continue to see extremely few females represented. The UK is second in the G7 for board diversity, after France, where a quota system is in place.

Chancellor Rachel Reeves said, “This report highlights how far we have come, but there is still work to be done as women are still underrepresented in key executive positions. When women are fully represented at all levels, businesses make better decisions, innovate, and perform better, which is good for the whole economy.”

Business Secretary Peter Kyle said, “While there has been progress, there is much more work to be done. We continue to work with business leaders and investors to provide more opportunities for women and ensure that the UK economy remains competitive and fully productive.”