Women hold almost 45% of seats on FTSE 100 boards, report says
Women occupy more than two in five seats on the boards of Britain's biggest listed companies after further progress was made last year, but the number of female FTSE 100 chief executives dipped for a time to fewer than 10, according to a report.
The proportion of board positions held by women at FTSE 350 companies rose to a new all-time high of 43.4% last year, up from 42.1% in 2023, according to the government-backed annual FTSE Women Leaders Review. Among the 100 biggest listed companies, the proportion of women in the boardroom was even higher, at 44.7% versus 42.6% in 2023.
The report, sponsored by Lloyds Banking Group and the consultancy KPMG, shows that women occupied 1,275 of roles on company boards and 6,743 (35%) of leadership roles at the 350 FTSE companies last year.
This means the UK ranks in second place internationally for women in the boardroom, behind France in G7 countries. France has 45.4% female representation on company boards and has used quotas, along with other countries, while the UK target of 40% female boardroom representation by the end of this year is voluntary.
'Today's report shows that while the momentum is with us, we have so much further to go,' said Poppy Gustafsson, the minister for investment. 'I know from founding my own business how strong female voices inspire positive change throughout an organisation, bringing new ideas and adding greater value.'
However, the number of women in top positions in the FTSE 350 fell slightly, to 19 female chief executives compared with 20 in 2023.
The female FTSE 100 CEOs are Emma Walmsley at GSK, Jennie Daly at Taylor Wimpey, Amanda Blanc at Aviva, Debra Crew at Diageo, Liv Garfield at Severn Trent, Louise Beardmore at United Utilities, Margherita Della Valle at Vodafone, Milena Mondini at Admiral Group and Allison Kirkby at BT. The Entain chair, Stella David, has also stepped in as the interim chief executive of Britain's biggest bookmaker, to replace Gavin Isaacs after his surprise departure a fortnight ago. She had also led the company, which owns Ladbrokes, Gala, Foxy Bingo and PartyPoker, on an interim basis before Isaacs became CEO in September.
At an event in London on Tuesday evening, business leaders, ministers and the leaders of the review will meet to reflect upon the progress made and the 'contribution it is making to creating a stronger, more dynamic economy'.
The government wants to work with business to bring more women into key roles such as company chairs, CEOs and other executive roles.
Sign up to Business Today
Get set for the working day – we'll point you to all the business news and analysis you need every morning
after newsletter promotion
Rachel Reeves, the chancellor, said: 'The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels. 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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
3 hours ago
- The Guardian
Politics and ‘free media' can meet demands of moment, Albanese to say, after journalist shot with rubber bullet in US
Anthony Albanese says government and democratic institutions 'including a free media' can meet the demands of global uncertainty, despite both facing growing attacks around the world. A day after an Australian journalist was shot with a rubber bullet while covering street protests in Los Angeles, the prime minister will use an address to the National Press Club to argue distrust can be countered through economic stability and keeping election promises. 'It is the more corrosive proposition that politics and government and democratic institutions, including a free media, are incapable of meeting the demands of this moment. 'Some simply dismiss such sentiment. Others cynically seek to harvest it. Our responsibility is to disprove it.' Sign up for Guardian Australia's breaking news email Days ahead of a visit to the US and Canada for the G7 summit and possible face-to-face talks with Trump, Albanese will say Labor's success in improving Medicare, increasing educational attainment and managing the economy matters for trust in democracy. Emboldened by a stronger-than-expected win in the 3 May election, Albanese has spent the subsequent four weeks reshuffling his frontbench and touring disaster areas. As planning for his second term continues, he is expected to outline immediate priorities for the return of parliament on 22 July and speak about his approach to Trump's growing tariff regime. Albanese will say the government plans to offer a stronger and fairer country, with strength in manufacturing, renewable energy and 'urgent necessities', and reduce frustration through better provision of government services. 'To recognise that some of this frustration is drawn from people's real experience with government - be it failures of service delivery, or falling through the cracks of a particular system,' the preview of his speech reads. Albanese is expected to use Australia's critical minerals and rare earths as a bargaining chip with the US, offering preferred access in a bid to secure exemptions from steel and aluminium tariffs from Trump. The UK government has secured an exemption from 50% tariffs introduced by Trump, through a deal signed with the US last month. Albanese's speech highlights Australia has a 'comparative advantage' from space to to co-locate refining and processing, as well as specialist manufacturing and data centres. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion Negotiations about a meeting between Albanese and the US president on the sidelines of the G7 summit in Alberta are continuing this week. So far, the pair have only spoken over the phone. The opposition leader, Sussan Ley, will address the Press Club on 25 June to outline a new style of Liberal party leadership that is more consultative, inclusive and collaborative. Peter Dutton shunned the traditional forum to speak to journalists in Canberra during his three-year tenure as opposition leader. Ley's speech is expected to reveal how the Coalition will rebuild from its election drubbing, with a focus on the values and priorities that will guide her leadership. 'Aspiration is the thread that connects every single part of Australian society and by focusing on that, the Liberal party can once again earn the trust of communities across the country,' Ley said in a statement.
Wales Online
6 hours ago
- Wales Online
Rachel Reeves makes statement after reversing Winter Fuel Payment cut
Rachel Reeves makes statement after reversing Winter Fuel Payment cut Reeves said there was still 'work to do to ensure the sums always add up' Chancellor of the Exchequer, Rachel Reeves Chancellor Rachel Reeves has made a statement after it was announced the cuit to the Winter Fuel Payment would be cut, meaning nine million pensioners will qualify this year. Rachel Reeves insisted she had 'listened to people's concerns' as she announced changes to the threshold for winter fuel payments. The Chancellor told broadcasters: 'From this winter, nine million pensioners will now receive winter fuel payments. It will be still means-tested, but at a higher level, we've listened to people's concerns around the level of the means test. 'Because of changes we've made and the stability we've brought back to the economy, we are able to increase that amount. We will set out in the normal way, in the budget, how everything is funded, but no-one should be in any doubt about my commitment to the fiscal rules to ensure that the sums always add up.' Reeves said there was still 'work to do to ensure the sums always add up'. The Chancellor told Sky News: 'The Office for Budget Responsibility increased the growth forecast for every other year in the forecast, they said that our reforms to the planning system would make the economy £6.8 billion bigger, bringing in additional tax revenue as well. 'And in the first quarter of this year, we were the fastest growing economy in the G7. There's still work to do to ensure that the sums always add up, but because of the decisions that we've made, because of the stability we've returned to the economy, we are now able to pay the winter fuel payment to more pensioners. Article continues below 'We're not going back to the universal system. I don't think it is right that the very richest pensioners have their fuel bills subsidised, but this year nine million pensioners will get the winter fuel payments.' Downing Street said an improved economy was the reason it could raise the threshold for winter fuel payments. The Prime Minister's press secretary said: 'We are confirming the changes now to give people certainty and ensure the payments can be received in time for winter. 'No pensioner will need to take any action as they will automatically receive the payment this winter. Targeting winter fuel payments was a tough decision, but it was the right decision. We inherited a £22 billion black hole from the Tories who lost control of the economy, leaving working people paying the price. 'We had to stabilise the economy with tough decisions and it's because of those tough decisions that the economy is beginning to improve. We've had the highest growth in the G7, four interest rate cuts in a row and real wage levels have risen by more since July 2024 than over the first 10 years of the previous Tory government.' She added: 'As the economy improves, we want to make sure that more people feel those improvements in their everyday lives. That's why we are acting to ensure that more pensioners are eligible for winter fuel payments going forward.' Some nine million pensioners in England and Wales will receive the winter fuel payment this winter, the Chancellor has announced. The payment, worth up to £300, will be restored to the vast majority of pensioners who previously received it because anyone with an income of under £35,000 a year will now get the payment automatically. Those with an income above this threshold will also receive the payment, but it will then be reclaimed from them in tax. To be eligible for the winter fuel allowance, a person will need to have reached state pension age by the week starting September 15 this year. Devolved authorities in Scotland and Northern Ireland will each receive a funding uplift so they too can meet the new threshold. Pensioners who do not want to receive the payment will be able to opt out, according to the Treasury. The decision to limit the winter fuel payment to only those who claimed pension credit was one of Labour's first acts in Government, aimed at balancing what was described as a £22 billion 'black hole' in the public finances. This meant the number of pensioners receiving the payment was reduced by around 10 million, from 11.4 million to 1.5 million. But Sir Keir Starmer announced there would be a partial U-turn on the policy in May, after it was thought to have contributed to Labour's drubbing in the local elections. The Treasury claims the new arrangement will cost £1.25 billion in England and Wales, while means-testing winter fuel will save the taxpayer £450 million. Reeves said: 'Targeting winter fuel payments was a tough decision but the right decision because of the inheritance we had been left by the previous government. 'It is also right that we continue to means test this payment so that it is targeted and fair, rather than restoring eligibility to everyone including the wealthiest. But we have now acted to expand the eligibility of the winter fuel payment so no pensioner on a lower income will miss out. 'This will mean over three-quarters of pensioners receiving the payment in England and Wales later this winter.' Some two million pensioners who earn more than £35,000 will see their winter fuel payments clawed back via the taxman, the Treasury estimates. Kemi Badenoch, Leader of the Opposition, claimed the Prime Minister had 'scrambled to clear up a mess of his own making'. The Conservative leader added: 'I repeatedly challenged him to reverse his callous decision to withdraw winter fuel payments, and every time Starmer arrogantly dismissed my criticisms. This humiliating U-turn will come as scant comfort to the pensioners forced to choose between heating and eating last winter. The Prime Minister should now apologise for his terrible judgment.' Liberal Democrat Leader Sir Ed Davey said: 'Finally the Chancellor has listened to the Liberal Democrats and the tireless campaigners in realising how disastrous this policy was, but the misery it has caused cannot be overstated. Countless pensioners were forced to choose between heating and eating all whilst the Government buried its head in the sand for months on end, ignoring those who were really suffering. 'We will now study the detail of this proposal closely to make sure those who need support actually get that support. The pain they went through this winter cannot be for nothing.' Independent Age Chief Executive Joanna Elson CBE said: 'We are pleased that the UK Government has listened to the voices of older people on a low income and reconsidered what was an incredibly damaging change to the Winter Fuel Payment. By widening the eligibility criteria, more older people in financial hardship will now receive this vital lifeline in time for winter. Article continues below 'Our helpline receives thousands of calls from older people making drastic cutbacks just to get by and the changes to the Winter Fuel Payment made this worse. For millions living on low incomes, the entitlement supports them to turn their heating on and stock up on food during the colder months. 'While the changes to the Winter Fuel Payment are positive, they are not a silver bullet that will end pensioner poverty. Around 2 million older people still live in poverty, and measures must be taken to ensure the long-term financial security of all people in later life. There needs to be a cross-party consensus on the adequate income needed in later life to avoid financial hardship. Once this is established, every older person should be supported to receive this amount. Nobody should have to live in poverty as they age.'
The Independent
10 hours ago
- The Independent
Key reasons why online shoppers abandon their orders before checkout
A recent survey indicates that over two-fifths of consumers have abandoned online purchases due to retailers not offering free delivery or returns. The poll, conducted by KPMG, revealed that 42 per cent of consumers view mandatory delivery or return fees as a deal-breaker. Additionally, 13 per cent admitted to purchasing multiple items with the intention of keeping only their preferred choice or the best fit. KPMG noted that these findings underscore the significance of free delivery and returns for online shoppers, while also highlighting the challenges retailers face due to the overuse of these schemes. Serial returners have increasingly strained retailers' return costs, leading to adjustments in postage policies. The survey also found that 13 per cent of shoppers often buy multiple sizes of clothing or footwear online to find the best fit, returning the rest. Another 12 per cent buy multiple items to evaluate their preferences, returning unwanted products, with this practice being most prevalent among 18 to 24-year-olds, where it affects a quarter of those surveyed. Furthermore, 6 per cent of respondents admitted to buying items for temporary use before returning them "as new" after they were finished with them. The survey also found that 14 per cent of consumers said having no drop-off option or returns locker close to their home stopped them from making an online purchase – rising to a quarter of those aged 18 to 24. Linda Ellett, head of consumer, retail and leisure for KPMG UK, said: 'Free delivery or free and convenient returns options remain a key purchasing driver for many consumers shopping online. 'Companies are having to weigh these consumer demands up against the cost of such schemes, including due to a cohort of consumers that are repeat buying with no intention to keep all items – something that is clear in our research. 'Savvy retailers are increasingly utilising purchasing data to categorise customers into those making genuine returns choices versus the unprofitable serial returner cohort. 'And as technology, including AI, evolves further, the ability to target those taking advantage of free returns policies will improve. This will help retailers reduce the risk of losing those who could become a lifetime shopper and are just gradually becoming accustomed to the brand's sizing and fit.' One Poll surveyed 3,000 UK consumers online between March 5-11.
